Legitimate! Today Credit Card Interest Declines, Here’s the Benefits
Credit card interest is lowered again. This news is a breath of fresh air for credit card users. Moreover, the decline in credit card interest takes effect as of June 1, 2017 and coincides also during Ramadan. With the decline in interest rates, shopping needs for fasting and Eid are no longer confused with the burden of interest.
Previously, Cream Bank had confirmed the policy to reduce credit card interest. The plan has been socialized before the turn of the year. In this regard, credit card issuing banks also participate in socializing the policy to their customers.
For those of you who want to pay credit card minimum bills, this change is certainly good news. At least, the interest to be paid is smaller than before.
Credit Card interest rates fall to 2.25%
Then, what is the reason for Cream Bank to reduce credit card interest?
Cream Bank’s policy decision regarding the official credit card rate cut was conveyed through Cream Bank Circular No. 18/33 / DKSP on Cream Bank Circular No. 11/10 / DASP. From the letter dated December 2, 2016, Cream Bank conveyed the reasons for cutting credit card interest capping.
- Adjustments to the maximum credit card interest rates to align current economic conditions
- Cream Bank views the need to encourage efficiency and acceptance (acceptance) of the public regarding the use of credit cards
- To increase the application of the principle of consumer protection for credit card holders
The decline in credit card interest rates has the potential to positively encourage the number of new credit card users compared to before. As for the data from Cream Bank, the number of credit card users was recorded at 17,661,935 cards as of April 2017.
For people who do not have a credit card, this new interest rate is certainly very profitable. Credit cards have a variety of benefits both as a means of payment or non-cash shopping transactions. So, while interest is falling, make this moment to get the credit card of your choice.
What are the benefits of falling credit card interest?
For credit card users, there are some positive effects that will be felt. The following are some things that are affected by the decline in credit card interest.
1. Pay a Minimum Credit Card Not As Hard As It Used To Be
The credit card cash payment feature is an alternative way for credit card users who don’t want to pay their credit card bills in full. The average bank sets a minimum payment of $ 500,000 or 10% of the total credit card bills.
The remaining outstanding bills are then added to the applicable interest on the credit card. Now, with a decrease in credit card interest, the remaining bills that must be paid become a little lighter.
2. Cash Withdrawal Interest Becomes Lighter
In addition to using an ATM card to make cash withdrawals, credit cards can also be used to make cash withdrawals. The difference is, cash withdrawals with a credit card will be charged with fees and interest. Fees imposed vary between one bank and another bank. It costs around $ .50,000- $ 150,000 or 4-6% of the money withdrawn.
The new rules of interest that apply today certainly ease the burden of fees that must be paid because of credit card cash withdrawals. You can avoid the credit card interest expense and just pay the withdrawal fee as long as you don’t make the minimum payment.
3. Pay Installments Using Credit Cards So More Save
The ease of paying for online purchases by using credit card installments is a distinct advantage for those who like to shop online. Almost all ecommerce and merchants offer payment methods by installments using a credit card. In fact, there are those who provide 0% interest installments on certain conditions. Well, paying installments becomes more efficient certainly because the interest is lowered.
Don’t Know the Desired Credit Card, Try Searching Online
The problem faced by those who want to apply for a credit card is not getting a suitable credit card. Both in terms of annual fees and ease of terms provided. Especially if the information is sought from bank to bank, how much time is wasted.
The phenomenon of startups engaged in financial technology (fintech) brought a wind of change in the financial world. Now searching and getting financial products becomes more practical, easy and safe. Simply open the Lite Lenders Credit site, a variety of financial products from credit cards, loans, deposits, to car insurance presented before you.
Whatever needs you are looking for from a financial product such as a credit card can be found at Lite Lenders Credit. Credit card options from various banks are displayed in a list whose order can be adjusted from free annual fees, bonus offers, rewards, discounts, to cashback.
What are you waiting for. Find the credit card of your choice at Lite Lenders Credit. Feel the ease of submission and enjoy the benefits.
Meet the Needs by Utilizing the Lower Credit Card Interest
The current decline in credit card interest coincides with the moment of Ramadan. Don’t waste this opportunity to fulfill your needs during Ramadan without worrying about the credit card interest expense. Not to mention the credit card promos given to maximize the benefits of falling credit card interest. So, get the credit card of your choice right away.