2023-04-23 17:25:00
Books – Ahmed Yaqoub
Sunday, April 23, 2023 07:25 PM
The “credit card” issued by banks is one of the alternatives to dealing with cash, and it is used in the purchase of goods and products, and a specific financial limit – the credit limit – is set for this card without debiting from the customer’s bank accounts, but by crediting money from the issuing bank..
The credit limit is a specific amount of money that you can buy products and services within its limits, or withdraw cash from ATMs.
The repayment period for the indebtedness of the card ranges between 55 and 57 days, which is the grace period, following which interest is charged on the amount owed, ranging between 2 and 2.5% as an average in banks operating in Egypt.. “The Seventh Day” answers how to pay off the “credit card” indebtedness. your.. and what are the easiest ways to do that?
– The easiest and fastest way is the internet banking service provided by banks, and the request to subscribe to the service is submitted through the bank branch, and the user name and password for the service are obtained from the bank.
– Payment by transfer and payment from the direct debit card – of the bank issuing the card – to the credit card through ATMs ATM And the number of more than 11 thousand machines spread all over the Republic.
– Issuing instructions to the bank to pay the minimum amount or the entire amount of indebtedness by debiting the bank account, and applying for the service at the bank branch.
– Payment through the network of branches of the bank issuing the credit card.
– The “non-guaranteed” credit card is defined as within 3 or 5 times the net salary, while the “included” credit card with bank certificates or a deposit is within the range of 80% of the value of the certificate.
– Each credit card has a 55-day grace period for payment, and following that period, interest is paid from 2 – 2.5%, depending on the type of card.
– The method of calculating the 55-day grace period varies from bank to bank or from one credit card to another.
– Clarification: When purchasing products from April 1st to April 30th, which is a 30-day period and the debt is paid before May 25th and 55 days is the grace period.
– Be sure to know the date of repayment of credit card debt to maintain the “i Score” credit rating.
– The minimum amount for repaying credit card debt is 5% of the debt – for example, 50 pounds for 1,000 pounds in debt.
– The credit card is important in completing purchases and installments from merchants without interest over installment periods ranging from 3 months to 3 years.
– There is another type of installment of the credit card purchase transaction, by making a phone call to the bank’s Call Center, to install the process with installment fees from 3% to 20%, depending on the installment period.
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