Why is the interest rate on my card not always the same?

One of the main aspects that concern users when having a   credit card   It has to do with the interest rate. Many believe that interests ‘eat them alive’ and that is why they prefer not to have any plastic.

The truth is that there are different options in the market and each one has a particular rate that depends on the user’s profile; Even so, there are cases in which the interest rate changes and they end up charging another. Why does the interest rate change?


1. It depends on the use you give to the card

credit card

First, the change is not without any reason, that is,   There is a receipt and it has to do with what you do with the card . Many people are unaware that the interest rate on their card as “standard” applies to purchases, but this changes if they do otherwise. And, if you have cash from your plastic, the rate will be different and higher.


2. When the Bank changes

credit cards

What other time does it change? The interest rate can also be modified when the bank makes certain adjustments, depending on market conditions. By law, this modification must be communicated and usually done through an email. So, if you are one of those who ignores the bank’s communications, you should start to stop doing so and pay attention to them.


3. Are you sure you pay on time?

3. Are you sure you pay on time?

Finally, if you are one of those who live to the limit and from time to time it is passed on the dates of the payments, you should know that once you fall into default, it is normal for another type of interest rate to apply. This rate is applied to the days of default or delay, and is different from the one you have for your purchases.

Those are three reasons why your rate may change and that you should know to give it a good handle. Remember that if you need a fast online loan with a personalized rate, kubo.financiero awaits you. We want to help good payers like you!