He Hot Sale is an event that seeks to promote electronic commerce and, for this, consumers use their credit cards to take advantage of the offers. But it is important to remember that with plastic you do not get money, but debt; and the penalties for not covering it are high and can have an impact on personal finances.
Credit cards are part of our daily life, but having them implies responsible use, since paying them late can lead to penalties.
Basic credit cards charge no fees and offer reduced lines of credit and in many cases they represent the first approach of the population with this type of financial product.
▶▶▶ Also, read: Be careful! So you can make safe online purchases at the Hot Sale
According to a comparison made by the National Commission for the Protection and Defense of Users of Financial Services (Condusef) Among 12 basic credit cards available in the Mexican market, Invex’s is the one that charges the most.
Bank Penalty
The card of Invex Volaris can charge 895 pesos for a penalty in case of no payment in the monthwhile, for late payment, which includes collection expenses, before the next cut-off and after the payment deadline, the penalty is 650 pesos. In the case of credit card HSBC Classicthe collection of penalties for late payment is 489 pesoswhile for one Improper clarification is charged to the client 200 pesos. For its part, the card Scotiabank, Scotia Travel Clásica, charges 418 pesos for late payment and 200 pesos for unfair claims. In the case of the card Blue from BBVA, 418 pesos are charged for late payment. The classic card Banorte charges 400 pesos for late payment and 200 pesos for unfair claims. Meanwhile, the card Citibanamex Clásica charges 399 pesos for late payment and the same amount for non-payment in the month. While, Inbursa Clásica charges 399 pesos for late payment.
It is important review the terms and conditions of credit card contracts in order to know in detail what are the charges made by banks for the use of their plastics.
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