Pay the debt of your credit cards each month can be overwhelming. To leave them, you have two choices: take out a personal loan to the bank and cancel your debt or make you buy their debt, thereby moving all your debts with one or several banks to one another entity.
The first option is somewhat disappointing because I would be entering a vicious circle, canceling the previous debt to cancel the new. According to Alfredo Ramirez, executive director of Comparabien.com, the second option is a "good opportunity to lower them."
Explain that the bank buys debt given a new credit card, which will have two parallel lines of financing: the first is to purchase debt itself and the other is to purchase products.
Before receiving this card must verify how much is the amount of debt and the second is to make sure the interest rate charged by the bank for the purchase of debt.
"We must revise the rates offered by banks and, in particular, should be compared. If a person pays an interest rate of 20% and offer me 25%, there would be no benefit. The interest rate must be less the current to gain from the process, "he said.
You should also check the interests of the second line, ie see the interest payable for products you can purchase with the new card, because "since they are two interests, it is useless to the bank to buy your debt if you end up paying more for the things you buy, "he added.
Annual Interest Rate (TEA) Minimum purchase by mode of debt fluctuates between 9.90% and 26.68%, while the maximum TEA ranges between 16.33% and 59.92%.
various services
There are companies that offer debt purchase, but not all give the same services.
According to the website of Banco de Credito del Peru (BCP), the minimum amount of debt to buy is of S /. 1,000 or US $ 300. Requests for purchase must be sufficiently available online for the transfer of debt and need a copy of your ID and fill out the application form.
Meanwhile portal Interbank indicates to request a debt purchase should contact their telephone banking (311- 9062) in which will be evaluated. This entity also offers such as BCP, preferential interest rate, which varies by customer in accordance with the approved amount.
Note that you can schedule payments in the number of shares you prefer: 12, 18, 24, 36 or even 48 months.
key
What they look for banks with the purchase of debt is to earn customer as placing a new credit card largest market is offered to other institutions, says Alfredo Ramirez, executive director of comparabien.com
He recommended to have a maximum of three credit cards for better debt management.
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