Economy

Here’s what it is and how it works

There’s a new payment system that has been depopulated in recent years: revolving cards. This allows you to be able to make monthly payments in installments, thus avoiding having to spend everything in one tranche. Let’s see what are the advantages of using one and how it works.

for all users credit cardsThe best news is not to pay the expenses incurred in the previous month all at once, but to pay them in installments. Well, this is not just a fantasy, but a unified reality for years: it’s about spinning cards.

The Installment amounts The customer can define and update them every time as per your wish. Let’s explore it together in the next article.

Revolving card: what is it and how does it work?

DIY cards

Let’s see right away what a file Turn the spin card And what are the advantages it offers with its own mechanism. there rotating card It allows you to open a credit limit that provides the user with a set amount that can be withdrawn little by little or used entirely. For example, on a credit line of €2,500, you can choose to pay monthly 250 euros per month.

The credit limit can range from a minimum of 1500€ to a maximum of 5000€. Not all cards are the same, in fact the credit limit can change depending on the type you want to use.

How much does a renewable card cost?

DIY cards

Let’s see now How much does a renewable credit card cost. First of all, it should be determined that the costs of this directly depend on the credit institution that will provide it. Moreover, interest rates, which are slightly higher than for a conventional loan, should be considered: Effective global annual rate (Taeg) About 15-20% on average.

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The requirements for having one are as follows: residency in Italy, age of majority and availability of documented income and a bank or postal current account.

Thelma Binder

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