What is a good credit card and is it worth the transaction fee?
It is clear from the Mariana’s data that the number of credit cards does not necessarily show an upward trend, but the number of credit cards has not increased over the years. Practically the same number of cards have been in circulation since 2010, although cashless payment could add hundreds of billions to the country.
This is, of course, mainly due to the relatively low level of good deals on the Hungarian market and the introduction of a transaction tax.
Here’s how to get a credit card today:
1. With product coupling:
Often, financial service providers give credit for a commodity, either by applying for a credit card or by having the credit of the commodity already on the card (most of the 0% APR offers are such). In this case, customers often do not want a credit card, so they will not use it deliberately or will be disappointed.
2. When the customer actually wants a credit card
This is the group that may have fallen sharply in recent times with the introduction of the transaction tax. However, the rate has not been high so far, as many are afraid of this product or simply consider it a scam.
Although there are many benefits to a credit card, such as discounts, interest on our unspent money and the convenience of an embossed card.
Although discounts have not changed significantly in recent years, interest rates have fallen. That is, we can get less and less for the money we don’t spend. In addition, the transaction fee can take away this small amount, as it is rare for a favorable credit card offer to be found at our own bank. However, the transaction fee will be passed on to the bank for more than one credit card purchase.
This is the case with the Save Life credit card. So, if you spend $ 100,000 on this card, you pay $ 300 in taxes on your purchases, and then $ 300 again when you pay off your debt with a transfer.
Although the card pays a higher credit in several store types, the average credit cannot exceed $ 2. You also have to pay the $ 690 monthly fee. Many of the remaining profits no longer risk the bank charging a penalty fee + interest if the debt is not paid on time.
Who has a good credit card?
Who can pay a little attention to your finances. When traveling abroad, you will definitely need an embossed card that you want to swim for cheap.
Which card should I choose?
You can consciously choose a card that offers special discounts: Save Life, Earnmore Joker, WiseAir. But we recommend these first and foremost if you are making a conscious purchase and the card is worth the transaction tax.
Many banks have cards with 1 percent credit. This is already high, and the annual card fee can be easily refunded. It is worth choosing this, as there is no fee for cash transfers between your accounts.
In this case, you can apply for a cheaper card next to our account and still have an embossed card with insurance that you can use abroad (hotels and car rentals usually ask for it).