4 Things to Consider Before Getting a Credit Card in Thailand |
Posted: January 9, 2018 |
Are you looking to get a credit card in Thailand? You should know that unlike other websites that just talk trash about them, we think it is a good idea. A credit card can be very useful if you use it correctly, therefore, they are not bad by default. However, before you go and get one, you should consider these four things. We invite you to give this article a careful read, so you can decide wisely. #1 – What Is The Credit Limit?It is how much money you can borrow. As suggested by umayplus.com/cashcard, one of the biggest credit companies in Thailand, you should not use the full credit limit. It is risky and sends a bad signal to the system. Therefore, according to them, it is a better practice to stick to 30-50% of it. It is ideal and will allow you to handle things better. Make sure that you get a good credit limit, and more important, understand that you should never use the 100% of it. If you do not listen to this advice, then you will run in problems. #2 – What Is The Interest Rate?When you get your CC, you will also be subject to the annual percentage rate, which can be flexible or fixed. It is simple to understand: if you get a flexible-rate card, then the interest rate can change from month to month, whereas with a fixed rate, it remains the same. If you want to keep things easy on your court, then get a fixed-rate card. It will make things easier to control, and therefore, to keep your finances in order. Of course, before getting the CC, make sure that the interest rate is fair by comparing it to other options in the market. #3 – What Are The Penalties and Fees?The moment you get a credit card, you will also be subject to certain fees and penalties. Make sure to check if you will have to pay fees for certain services like balance transfers, payments by phone, cash advances, etc. It is evident that the fees need to be fair if you do not want to hurt your finances. That’s why it is important to know it all about the credit card you want to get and compare it to other options. This will bring you a much clearer panorama. #4 – Have You Got What It Takes to Use a CC Responsibly?Here we have the most important point: do you have what it takes to use it properly? Before you rush and get it, make sure that you meet these requirements:
If you can do these three things, then you will eliminate most of the risk associated with the lack of control and credit cards. Final Words:There are very good reasons to get a credit card, but also things you need to consider before doing it. Now that you know it all, take a moment to meditate the idea and see if you really need it and can handle it.
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