The credit card is an instrument that provides us with various benefits and opportunities; and it should not be handled as part of the Income, because the Credit card is a loan, a line of credit that a Financial Entity assigns to it, after analyzing its income and the collections that it may have requested, such as statements of Bank accounts, Personal Balance, Certification of Income, Declaration and ISLR, Etc., to approve the same. And for that credit, they have to pay some interest and administrative expenses, so when we get into debt with the credit card, it should be for a productive activity, to which we can take advantage of that loan or credit.
It is very different when you go to the Super Market and buy all the ingredients, Eggs, flour, baking powder, Etc., because you make cakes, cookies and food for sale, there you will be paying with the credit card, for something that will generate income, which will allow you to pay that debt.
When we use the credit card to buy the food, which is consumed every day, we would be wasting an opportunity, with which we could finance a productive activity, using it as an additional income; but not the credit card, it must be as it is said in the popular slang "Kaka", that is, it is not used for ordinary consumption. We can not use the credit card, because we go to the cinema, because we go to the restaurant, because we are going to buy school supplies, some shoes, NO!!.
We must plan how we are going to use the credit card. It is more the use of credit cards, it must be to solve in emergencies. For example: You use your car to take the children to school, because you have only one car in the family, you leave your wife to work, then you do the market, you visit the grandparents, etc. Then the battery is damaged, and at that time, you do not have the money to buy it, if you have a limit on the credit card, then you can solve it at that time with the credit card.
A very important detail that must be taken into account, is knowing the credit cycle of the credit card, which many people do not know or do not pay attention to. The credit card has a cut day and from that day until payment must be made, more or less 50 days pass, ideally, in those 50 days, you cancel what you spent or consumed from the credit card. And another very important recommendation is that you should not pay only the minimum, look how much are the interests, then add the minimum plus the interest, so that you reduce or decrease the debt.
According to data provided by SUDEBAN(Superintendencia de las Instituciones del Sector Bancario de Venezuela), that the use of credit cards for the past year had increased by 67%, this was practically for the first quarter of 2016. It is unknown what the figure would be, for October 2017. However, this 67% for 2016 was a high percentage and at that time, specialists in economics and finance, agreed that the use or increase in the use of credit cards, had been allocated for purchases and food expenses, to cover this kind of ordinary needs.
If your income capacity today, allows you to request and obtain a bank loan, my recommendation is that you should take it. Because the interest rates that banks currently charge are very low, relatively to the rates that inflation reflects, then borrow as much as you can, as long as you do not feel hanged in other things. Right now is a good alternative to borrow, it is good to work with money from another, but yes, not for ordinary consumption, as I explained, previously in the case of credit card, is to perform productive activities, Put it to produce, invest it, partner with other people, to find the best investment alternative for that money.
But in the reality of this situation country, which we face today all Venezuelans, it is impossible not to use the credit card, as an alternative to help meet our ordinary needs, it is still cheaper to get into debt with her and go paying a debt that at the return of 4 months inflation will have done its job of diminishing it in terms of monetary value.
