A credit card is a very convenient product attached to a personal account – regular repayments will allow you to avoid charging interest, and the deadline for settling the used credit limit exceeds a month. How do I use a credit card to take advantage of the free credit?
A credit card is nothing more than a credit limit in the form of a payment card, known to every bank customer. The form does not differ from any card that is received to handle funds accumulated on an ordinary bank account. Often it is not so easy to distinguish it from an ordinary debit card at first glance.
However, when making purchases, the credit card takes funds not from the personal account, but from the credit account. This is connected with additional possibilities, but also with certain obligations that cannot be forgotten. Otherwise, the plastic that was supposed to give us access to free additional funds may turn out to be quite a heavy burden on the household budget. At the same time, however, wisely managed credit cards are a great way to raise money without unnecessary formalities and burdens.
(photo: onephoto / YAY Foto)
How does a credit card work?
The principle of a credit card is very simple. The bank will not start charging interest on the debt accrued on the card account until the user does not use it or the credit card maturity date is not exceeded . Due to the very similar appearance and purpose, it is very often confused with a debit card , i.e. the basic payment card that is in our wallets. However, the difference in their number on our market is quite significant.
According to the analyzes, we currently use approximately 5.7 million credit cards in Poland. A year earlier, there were several hundred thousand more. Therefore, a downward trend in favor of mobile payments is noticeable. Nevertheless, the market position of the credit card is still significant.
There are over 28 million debit cards. The disproportion results primarily from a different mechanism of action, which also forces a different method of inferring and awarding plastic. Credit cards are credit products , so the decisive factor will be, among others . specific customer ‘s creditworthiness .
Citibank Simplicity credit card
One of the most popular credit cards in Poland for years is the Citibank Citi Simplicity card . It is a very useful payment tool. Having this card, we can always use it in case of unplanned expenses. The Citi Simplicity card will also prove useful when planning a trip, because thanks to it we can book a hotel, buy air tickets and rent a car.
Using a loan does not have to be expensive. It is enough for us to use the interest-free period, which in the case of this card is 56 days . By repaying the card within this period, we will not incur any additional costs related to the debt. We pay back as much as we spent.
The monthly cost of maintaining a Citibank Simplicity credit card is PLN 12 . You can easily avoid this fee by making transactions with a value of min. 1000 PLN a month . However, if we issue a credit card in the promotion and meet the conditions of activity to get a bonus, you will avoid the fee for the first year if you make monthly transactions worth only PLN 300 , not PLN 1000.
If we get a Citibank Simplicity credit card in the ongoing promotion, we can easily get up to PLN 400 bonus to spend in the Biedronka chain of stores . All you need to do is get a Citibank Simplicity card and:
- by the end of the following month at the latest, after signing the agreement, log in to Citi Mobile banking;
- By the end of the third month at the latest , starting from the month following the month of concluding the contract, spend at least PLN 1000 when paying with the Simplicity card for purchases in stationary or online stores.
Step by step use
Undoubtedly, any person who has used any type of card payment: debit or prepaid , will be able to pay with a credit card . With its help, we can easily pay in a stationary store using cashless transactions with or without a PIN code within the accepted limit. We will also be able to pay for online purchases .
However, the obligations of the holder do not end there. While in the case of plastic “attached” to the bank account, the sum will be charged from the account, credit cards use the granted limit, which is in no way linked to our savings. So this will have to be repaid, and the final cost of the loan also depends on how we do it.
Interest-free period: a way to get free funds
A specific concept related to the operation of a credit card is the interest-free period – this is the time during which the card issuer will not charge interest on the used debt limit. The interest-free period is usually 40-60 days.
It consists of two parts:
- The settlement period : this is the time during which we can use the granted limit. It lasts for a month and its end is marked in the contract.
- Debt repayment period : after the end of the settlement period, the bank summarizes the funds used and gives us time to settle them. This one will depend on the bank’s policy, but usually it is 20-30 days.
This means that when paying with a card for purchases on the first day of the settlement period, we have 30 days plus 20-30 days to repay this amount, which was set by the bank in the offer. During this time, the bank will not start charging interest on the amount spent . This means that we can pay off the debt on the card only at the end of the next month, and until then we can still use the free loan .
Credit card repayment
Before the end of the interest-free period , however, the credit card must be repaid so that the bank does not start charging interest. In this way, the use of the card will only involve the customer incurring a fee for using the card .
Banks allow you to avoid it less often than in the case of debit cards issued to a personal account, but there are also those on the market that are exempt from the fee or its significant reduction. It is enough to ensure adequate receipts in the bank account or use it actively when shopping.
Paying off your credit card is a very simple process. The bank that issues the card gives the credit card number , or rather the account number that is used to repay the debt . The only thing the customer has to do is make a transfer of funds from the checking and savings account to the credit card account in due time .
However, be careful if you make repayments on the last day of the interest-free period . The same rule applies here as in the case of an ordinary transfer – it may not be delivered on the same day and, as a result, the bank will charge interest for each day of delay.
Repayment does not always mean the same
People with a credit card must know, however, that the possibilities that plastic hides do not end there. They do not have to pay the entire amount borrowed. Banks set a minimum amount, usually 5% of the debt on the card. The remaining amount can be divided into installments and repaid at a later date.
However, it is worth remembering that in this case you will have to take into account the interest rate. In most offers, this is equal to the maximum allowable rate, i.e. four times the lombard rate. Credit cards are therefore the most profitable when we manage to pay off the credit card in the so-called “grace period”.
Credit card transfer and cash withdrawal by credit card
The credit card is primarily used for payments made in stationary or online stores. It is also possible to use it at an ATM or make a transfer . However, banks will charge a substantial fee for such non-standard operations.
While the basic use of the card is not expensive, any operations involving the conversion of the credit limit on the card account into cash involve additional fees. Withdrawing cash may involve a commission of up to 10%. For each thousand zlotys withdrawn, the bank may charge a fee of 100 zlotys.
It is similar with transfers from a credit card account – it is possible, but just as expensive. Credit card issuers also often offer to convert your available credit limit into a cash loan . However, it should be remembered that then interest is charged from the moment of signing such a contract, and not, as in the case of repayment of a credit card , only after the end of the interest-free period.
The commission is not everything
However, a high commission for withdrawing cash from an ATM using a credit card or making a transfer from its account is not everything. Most banks also reserve that only non-cash transactions are not subject to interest.
Often, therefore , the funds we have obtained in this way will cost much more , regardless of whether we managed to accommodate the repayment of the entire debt in the interest-free period or not. In order not to lose valuable savings, it is worth carefully reviewing the terms of the contract.
What will you find on the front and back of your credit card?
According to ISO standards, on the front, i.e. the face of the credit card, there must be:
- Name and logotype of the bank issuing the card
- Card number, which we will write about in a moment
- Credit card expiration date
- The name of the credit card owner
- Logotype of the organization responsible for the card
On the back of the credit card you will find:
- Magnetic strip
- Place for signature
- CVV2 / CVC2 number
What’s in the credit card number?
The credit card number consists of 16 digits in blocks of four.
- The first digit informs us about the industry in which the issuer of our card operates.
- 1 and 2 – airlines
- 3 – Travel & Expense club cards
- 4 – VISA
- 5 – MasterCard
- 6 – national financial card organizations
- 7 – fuel sales networks
- 8 – telecommunications networks
- The next five digits are allocated to the card issuer . Together with the first digit, they make up the BIN (Bank Identification Number) that allows you to identify the bank.
- The next 9 digits are the customer’s account identifier .
- The last digit serves as a control and allows to determine the authenticity of the card on the basis of a mathematical algorithm.
The possibilities offered by credit cards do not end with the acquisition of additional cash. Issuing a card is also a pass to numerous benefits. Thanks to them, we will take advantage of special bank promotions offering access to exclusive promotions, discounts and a refund of some of the funds spent, i.e. cashbacks .
Such programs have been prepared by both card issuing companies and almost all banks.
Besides, the card is uneven. Special editions allow you to use additional options such as
- Travel insurance or support in case of trouble.
- Access to VIP zones or special actions organized in various places around the world. It is also worth knowing that what plastic rests in our wallet will also depend on, among others . how much we will pay for the borrowed funds.
- Higher credit limit for prestigious cards after prior analysis of the customer ‘s creditworthiness . The credit limit will depend on its verification, i.e. the funds that the user will be able to use.
- Extra Opportunities : Some cardholders gain access to much better deals, including promotions such as moneyback . They receive special offers and benefit packages.
The factors strongly associated with PC2 are ER О±46 ER О±46 0 never mix steroids and viagra
purchasing cialis online A comparison of labeled cell types in the adult brain as a function of 4HT injection time can be seen by comparing Figures 3 and7 I L
Monitor Closely 1 erythromycin base will increase the level or effect of mexiletine by affecting hepatic enzyme CYP1A2 metabolism where to buy priligy
I did 3 rounds of IUIs before I got pregnant cialis online india Jean Bennett and Dr
You said it nicely.!
uc college application essay https://writinganessaycollegeservice.com how to succeed in college essay https://essaywritingservicebbc.com
Nicely put. Thanks!
me as a writer essay please do my essay for me how do i end my college essay
Incredible tons of beneficial facts!
buy essays order essay papers
Effectively voiced certainly. .
play online casino games empire casino online login online casino games real money no deposit
Valuable content. Thank you!
essay writer no plagiarism free write my paper for me do my essay review essay writers for hire
writing essays online best college essay writing service cheap essay service writing a college essay
write an informative essay https://writingthesistops.com
Thanks! I enjoy it!
custom essay writing affordable essay writing service what is the best essay writing service best paper writing services
Thank you! Numerous advice.
auto essay writer do my essay write my resume for me write essay
Point effectively regarded!.
cheap essay for sale pay someone to write my essay pay to get an essay written pay someone to write my college essay
Many thanks. Plenty of postings!
while revising an argumentative essay a writer should what website writes essays for you write my argumentative essay write my thesis for me
Fine information. Kudos.
order of essay pay for research paper pay for writing papers pay people to write essays
Amazing loads of terrific knowledge!
do my programming homework homework help cpm do my writing homework custom coursework
dissertation consultants buying dissertation custom dissertation writing help define dissertation
help me write my thesis https://essaywritinghelperonline.com
Superb info. Thank you.
do my homework in spanish should i do my homework pay someone to do my homework buy coursework
help writing a dissertation buy dissertation paper custom dissertation writing services dissertation help services
dissertation abstract international https://cheapessaywriteronlineservices.com
Wonderful info. Kudos.
cheap research paper writing service project proposal introduction proposal writer term paper writing
This is nicely said. .
best dissertation editing services dissertation research nursing dissertation dissertation editing help
write my essay free online write my essay today write my essay now write a speech for me
writing a literary analysis essay https://essaytyperhelp.com
This is nicely expressed. !
phd research proposal buy term papers online term paper writing service write my research papers
cheap essay writing services essay writing website essay writing prompts writing an essay outline
academic essay writing help https://custompaperwritersservices.com
Helpful content. Appreciate it.
buy essay online safe pay to get an essay written pay for essay papers order of writing an essay
Cheers. Great information.
doctoral dissertation dissertation help service what is a phd buy a dissertation online help
should i do my homework homework do my online math homework do my homework in spanish
why college is important essays https://essaywritingservicehelp.com
Thanks a lot! Numerous content.
custom term papers research proposal cover page buy term paper online the proposal online
Wow lots of beneficial facts.
phd weight loss writing your dissertation help with dissertation writing dissertation proposal help
Appreciate it, Ample stuff!
write my paper reviews paper writer website websites that write papers for you professional paper writer
You actually suggested it exceptionally well.
academic essay writer write my essay custom writing pay somebody to do my essay writing a personal essay
Very good information. Thank you.
writing an expository essay unique essay writing service writing an informative essay admission essay services
pay someone to do my essay pay to write papers pay for papers essays for sale online
how to write an essay in college https://writeadissertation.com
You actually suggested that terrifically.
proposal thesis write a proposal buy college research paper pay someone to write my research paper
Very good information. Many thanks!
best research paper writing service essay writing essay writing tips best essay writing service australia
Wow a lot of amazing information.
custom paper writing service essay writing prompts paper writing service college spongebob writing essay
can i pay someone to write my essay buy an essay paper online order essay just buy essay
writing college essays for money https://bestonlinepaperwritingservices.com
Amazing information, Many thanks.
chicago illinois dissertation help dissertation writing services reviews thesis dissertation writing dissertation
Fantastic information. Thank you.
write my essay 4 me my essay writer do my essay review writer essay
Thanks, Lots of knowledge.
write a essay for me writing a personal essay write paper for me write my resume for me
cpm homework do my homework for money do my homework for money should i do my homework
how to write an introduction to an essay https://homeworkcourseworkhelps.com
Many thanks, I appreciate this!
essay writing app spanish essay writing service biology essay writing service writing services for college papers
Thanks a lot. Loads of tips.
best essay writers college papers for sale automatic essay writer how to write an apa paper
essay writing service oxford essay writing service uk forum cheap reliable essay writing service best online essay writing services
introduction to college essay https://dissertationwritingtops.com
You actually said this superbly!
best paper writing service college application essay writing service best executive resume writing service professional essay writing services
Really a good deal of wonderful material!
research paper helper thesis proposal writing proposal cheap research paper writing service
pay for college papers pay for essay papers pay for essay pay for paper
how to write a film essay https://phdthesisdissertation.com
Valuable facts. Thanks!
do my finance homework pay someone to do my homework should i do my homework i don t want to do my homework
Great write ups. Thanks.
custom dissertation writing services dissertation paper phd dissertation writing phd dissertation help
[url=https://homeworkcourseworkhelps.com/]pay someone to do my homework[/url] do my math homework [url=https://helpmedomyxyzhomework.com/]online coursework[/url] do my college homework
essay about college life https://argumentativethesis.com
Seriously quite a lot of good tips.
professional essay writers write my essays online write a essay write my essay
Reliable write ups. Thanks.
working thesis define thesis statement define thesis statement doctoral thesis
writing a thesis statement good thesis statement thesis sentence thesis topic
how to write an essay on a poem analysis https://essaywritingservicelinked.com
This is nicely expressed! .
custom papers professional paper writing service cheap research paper writing service paper writing services
You actually suggested that really well!
dissertation assistance writing a dissertation dissertation writers proquest dissertations
buy essay online pay for papers buy essay online order essay
essay writing jobs https://writinganessaycollegeservice.com
Kudos! Valuable information!
kindergarten writing paper write my term paper writers of the federalist papers how to write a reflection paper
Very good information. With thanks.
strong thesis statement good thesis statement a thesis good thesis
Information very well considered!!
xyz homework do my homework for me i don t want to do my homework hire someone to do my homework
You actually mentioned it perfectly!
dissertation def phd dissertation dissertation uk phd weight loss
Regards! Loads of posts!
college thesis good thesis college thesis tentative thesis
Amazing facts. Kudos.
essay writing tips urgent essay writing service essay paper writing service seo article writing service
best college paper writing service best paper writing services paper help custom papers
how can i write essay https://phdthesisdissertation.com
Thanks a lot! I appreciate this.
research paper writer services proposal research research paper helper write my term paper
You said it well.
online coursework cpm homework help do my math homework for me coursework
write my essay for free help me write my essay write my thesis for me write this essay for me
college entry essays https://helpwritingdissertation.com
Wow a good deal of beneficial tips!
parts of a research proposal buy research paper write my research paper buy term papers online
Fine posts. Regards!
dissertations dissertation writing service custom dissertation writing services dissertation editing
Nicely put. Kudos!
dissertation writing services doctoral dissertation phd weight loss phd thesis
paper writers essay writers write my term paper pay to write paper
how to buy essays online https://writingresearchtermpaperservice.com
Amazing a lot of terrific knowledge.
dissertation def dissertations online dissertation writers dissertation editing services
Whoa all kinds of useful information.
do my chemistry homework do my college homework do my homework pay someone to do my homework
buy essay essay helper free help writing essay essay helper free
cheap essay writing service us https://writingthesistops.com
You revealed it exceptionally well.
paper writing service reviews types of essay writing writing an essay introduction essay writing in english
You said it perfectly..
dissertation abstracts dissertation editing services dissertation editing services dissertation writer
essay writing service blog smart writing service cheap assignment writing service professional paper writing service
writing a compare and contrast essay https://essaywritingservicelinked.com
Whoa plenty of good information!
can you do my homework do my chemistry homework do my math homework do my programming homework
Thank you. Excellent stuff!
write an essay for me write this essay for me writing an opinion essay write me an essay
Superb stuff. Regards.
cheap research paper writing service buy term paper buy research paper buy a research paper
Thank you, I value this!
spanish essay writing service real essay writing service writing a persuasive essay is essay writing service legal
Thanks. Quite a lot of write ups.
how to write an analysis paper write my paper essay writer review paper writers for college
thesis topic thesis help thesis statement meaning research thesis
rutgers college essay https://writingthesistops.com
With thanks, Lots of tips.
thesis binding a thesis good thesis statement argumentative thesis statement
Information effectively applied!.
thesis proposal write my research paper for me writing proposal proposal research
Beneficial advice. Many thanks.
write my essays online write a essay for me write my thesis for me write my essay for cheap
the best essay writing service essay writing service uk cheap good essay writing service best assignment writing service
writing help https://researchpaperwriterservices.com
Seriously a lot of excellent advice!
buying papers for college research paper writing service best college paper writing service paper writer services
cialis online generic There are, however, also limitations to be considered
You said that wonderfully.
essay writing companies writing an essay outline assignment writing service top rated essay writing service
You actually expressed it fantastically.
professional paper writers essay writer review essay writers online write my paper for me
writing a good essay do my essay for me essay writers write my essay for me
gre essay writing https://researchproposalforphd.com
This is nicely expressed. .
need help writing an essay help me write an essay essay helper free writing assistant
Regards, An abundance of material!
xyz homework pay someone to do my homework do my programming homework do my math homework for me
Appreciate it. Loads of forum posts.
essay writing website paper writing services legitimate essay writing services professional essay writers
dissertation paper writing dissertations phd paper phd weight loss
mba admission essay writing service https://phdthesisdissertation.com
Thanks, A lot of content!
pay for research paper pay someone to write paper order custom paper buy a paper for college
Wow tons of amazing facts.
dissertation service dissertation writer dissertation def dissertation meaning
You said it perfectly.!
how to write a reflection paper essay writers paper writers for college pay someone to write your paper
define thesis statement thesis topic tentative thesis thesis help
i need help writing an essay for college https://bestonlinepaperwritingservices.com
Nicely put, Cheers.
proposal introduction term paper college term papers termpaper
You said it adequately..
professional essay writers write essay essay writer essay writer free trial
Cheers! I value it.
pay for paper order essay online buy essay online pay to write my essay
best resume writing service 2019 is essay writing service legal article writing service best finance essay writing service
how to write admission essay https://custompaperwritersservices.com
You actually explained this adequately.
proposal introduction elements of a research proposal research paper proposal online proposal
You actually reported that well.
essay helper online essaypro help essay help with essay writing
Wow a good deal of awesome tips.
professional essay writers write my paper for me help me write my essay essay write
best dissertation dissertation writer dissertations online dissertations
dissertation def https://homeworkcourseworkhelps.com
Thanks a lot! I enjoy this!
who can write my essay help me write my essay write my resume for me automatic essay writer
Thanks a lot. Terrific information!
professional cv writing service essay writing website academic essay writing best finance essay writing service
Nicely put. Appreciate it!
essay writers online persuasive essay writer write essay essay write
Well spoken truly. !
paper writers how to write an analysis paper how to write a philosophy paper how to write a paper
You expressed it perfectly!
write my term paper writing a research paper paper writer paper writers
Nicely put, Cheers.
top ten essay writing services best essay writing website buy essay writing online writing an essay introduction
Amazing lots of useful facts!
essay writing help service professional essay writers custom essay writing professional essay writing services
Truly loads of very good data!
best dissertation dissertations phd weight loss phd dissertation writing
Useful forum posts. Thank you!
writing an analytical essay custom essay service writing a scholarship essay best online essay writing service
Good facts. Thank you!
essay typer writing help the college essay guy write my essay
Very good posts. Thanks.
working thesis thesis writing thesis writing thesis statements
You actually said it adequately.
order custom paper custom paper custom papers custom papers
Thanks. Ample write ups!
dissertation abstract dissertation editing best dissertation definition of dissertation
Cheers, Awesome stuff.
graduate paper writing service paper help buying papers for college best college paper writing service
essay writing website essay paper writing service write essay service essay writing service uk cheap
dissertation writing https://payforanessaysonline.com
Factor effectively taken!!
the college essay guy medical school personal statement essaytyper essay bot
Effectively voiced indeed. !
homework help cpm hire someone to do my homework do my homework reddit do my homework
doctoral dissertation doctoral dissertation dissertation writing services dissertation writing services
websites to type essays https://essaywritingservicebbc.com
You’ve made your point extremely effectively..
buy essay online pay for research paper pay for an essay pay for college papers
essay writer review research paper writers essay writer review paper writers
thesis writing service reviews https://payforanessaysonline.com
You actually explained that exceptionally well.
[url=https://argumentativethesis.com/]good thesis[/url] good thesis statement [url=https://bestmasterthesiswritingservice.com/]thesis binding[/url] thesis titles
You’ve made your stand extremely well!.
essay writer free trial write my essay do my essay free writing essays
Regards, Quite a lot of tips.
pay to do my homework coursework cpm homework help pay to do my homework
where to buy essays online pay for essay reviews pay to write paper pay for paper
marketing dissertations https://custompaperwritingservices.com
Cheers! Quite a lot of information!
buy essay papers buy essay pay to write my essay pay for an essay
Cheers. Very good information!
write this essay for me persuasive essay writer write a essay for me write my resume for me
research paper help termpaper proposal writer research paper services
write your dissertation https://argumentativethesis.com
Thank you, I value this!
[url=https://homeworkcourseworkhelps.com/]do my finance homework[/url] do my finance homework [url=https://helpmedomyxyzhomework.com/]do my math homework[/url] do my homework
Terrific content. Cheers.
proposal writing write my term paper research proposal apa research paper writers
You actually stated it wonderfully.
research paper writing service essay writing help top rated essay writing service college essay writing help