One of the biggest concerns of people when purchasing a credit card is the annuity they will have to pay for it. And it is that although it is an almost mandatory requirement of those who use this type of plastics, the offer is so great that the banks have chosen to differentiate this commission in amount and forms of payment in order to get the attention of the customer. But … Why so afraid of annuity? How much is the annuity of a credit card?
What is annuity on credit cards?
The commission called ANNUALITY on the Credit Card is the amount that banks charge for the right to use and access the current credit line on the Card. All banks charge it on at least one of their cards.
This commission is billed annually regardless of the validity of the plastic.
Currently, all financial institutions are required by Goodbank, to issue plastics considered basic, which must be, by law, for example from the payment of the annuity with the consideration that they should not exceed 200 times the minimum wage.
Forms of payment of the annuity
Some banks, in their eagerness to attract more customers, have disguised the “good” annuity with payment schemes.
Annuity Payment: This means that you can cover your annuity payment in several exhibitions, usually 3.
Conditional annuity: This type of annuity can be avoided if you follow the “rules” that the bank imposes on you, in general, they are mandatory purchases or use of the card for a certain amount of money per month.
Cards with higher annuity
The annuity of the credit card is mainly determined by the range of the same, that is, the higher the range of your plastic, the annuity is very likely to be higher.
To give you an idea of how high this commission can be, we leave you with the 5 cards with the highest annuity in the market until today:
Cards without annuity
But don’t be discouraged! There are also credit cards that, as we have already mentioned, do not have an annual commission and which you will be able to enjoy without the rush of having to save for this commission.
Which credit card suits me best?
Without a doubt, the best credit card and salt that best suits your possibilities and needs and has little to do with either a card charges an annual commission. For example:
- If you are a totalero, it doesn’t matter how much your annual commission charges because you will never pay it!
- But, if you usually use the financing of your credit cards, the ideal is that you choose the ones that handle the lowest annual CAT and zero annuity
- If you are one of the people who only use your credit card when there is an emergency or to take advantage of promotions for months without interest or discount, try to choose a product without annuity, or with a very low
Everything will depend on what you use your card for. Choose wisely!