Here’s to you control: It’s cheaper to pay by credit card than by deposit!

Until the introduction of the FTT, it was a market habit for banks to keep their annual credit card fees high, but to give their debit card cheap. In the past, the cost of a credit card could even double that of a debit card. However, since credit cards are usually issued in the more expensive embossed version (MasterCard Standard, Visa Classic), there is an even cheaper step from the debit card, the electronic debit card (Maestro, Visa Electron). This was subverted by the advent of the financial transaction tax and the reduction of the interchange fee. Based on this, it is worth banking differently today, just as it would have been crazy before!

Banks know that customers need a credit card. In fact, they also know that cheaper electronic cards have an even greater age, so you may have already discovered that the annual fees for debit cards have risen sharply, with the annual fees for cheaper electronic bank cards drastically increasing.

The combined effect of these is that an electronic bank card now costs as much as an embossed card.

 

Debit and credit card annual fee rates

Debit and credit card annual fee rates

In an earlier article we addressed the question of why you should choose an embossed debit card today instead of an electronic one. There is not much difference between the two nowadays, because in the past you have applied for embossing to make sure you do not travel abroad (eg in hotels, car hire) and to shop online with it. Nowadays, however, electronic cards are generally accepted on the Internet and the coverage of POS terminals used with electronic cards has increased significantly (in more advanced parts of the world), and even now the real challenge is not the coverage of contactless payment points, where Hungary is very well .

As you can see from the comparison above, credit cards are now better for your annual fees. While not all banks are more expensive to use a debit debit card than a credit card, and credit cards may incur a separate monthly account management fee (although you will find free account management), we have tried to give concrete examples to show that the old order has definitely reversed.

 

How do you consider your choices today?

credit cards

  • choose an electronic or embossed card as your debit card ?
  • do you require a credit card or spend with your debit card?
  • you pay extra on the credit card account management fee, but in return you get a refund for your purchases , which can be more than the monthly credit card management fee plus the annual fee, OR you stay with your debit card with a single account management fee, but miss the discounts?
  • use an overdraft with your debit card, or do you buy interest-free from your special account behind your credit card?

 

The best strategy

The best strategy

Based on the questions above, everyone can individually choose the solution that suits them best. Our tip is:

  • choose cheap electronic in your debit card while
  • request a cheaper embossing from your credit card! So you have not one but two cards at many banks for the price of a single embossed debit card ,
  • Moreover, you get a separate credit line, of which interest-free can spend the same place where the card is embossed using it
  • and with a good credit card selection, you’ll even have extra discounts .

We recommend that you use a credit card comparator to choose a credit card that will give you a refund on your standard credit card purchases (which you always have to pay back in full for interest-free payment on time), and you can earn even more than your credit card charge.

It is also important to always withdraw cash only with your debit card, under all circumstances, never with your credit card!

This is how the Hungarian bank is the smartest bank today.

How to Pay Credit Card Debt?

If the card debts are not paid within the time specified by the bank:

  • Banks can apply to various situations such as legal sanctions and foreclosures.
  • In such cases, citizens’ real estate can pass to the bank or different problems may occur.
  • In order to avoid such situations, it would be more accurate to follow up the debt correctly and in case of non-payment, contact the bank and prepare various payment plans.

What are Credit Card Debt Payment Methods?

What are Credit Card Debt Payment Methods?

You can pay in cash after paying the credit card debt to the bank branch after giving your user information to the authorized person, or you can make your payments through the bank’s ATM devices. In addition, various payment methods are available for different situations.

How to Pay Credit Card Debt from the Internet?

With the help of internet banking transactions, it is possible to pay credit card debt without card. If you have a deposit account in the bank where you use the credit card, it is possible to pay the debt of your card if there is enough money in your deposit account.

The steps you need to take are the same for almost any bank:

  • Open the bank’s mobile app or internet banking site.
  • After entering the login section, enter the customer number or TC ID number and your internet banking password in the appropriate spaces and click “login”.
  • Enter the verification code that the bank has sent to your mobile phone in the relevant space and click “login”.
  • You can find the ım My cards ”option from the menu and then öde Pay credit card debt” and complete the payment steps.
  • If you do not have a deposit account in the bank where you use the credit card or if there is not enough money in this account, it is possible to pay your debt through another bank account. Thanks to EFT service, you can close your credit card debt by sending EFT from other banks. Some banks do not charge any fees for transactions such as EFT and money transfers , while others make certain money cuts.

How is someone else’s credit card debt paid?

How is someone else

It is possible to pay credit card debt on behalf of someone else. In this case you do not need to have a card.

If you pay someone’s credit card debt:

  • Bank or ATM devices do not provide you with content that indicates how much you owe. By using the yat credit card payment ”option in ATMs, it is possible to deposit any amount of money on behalf of that person.
  • On the other hand, if user information and password are known in the cardless transactions section, it will be possible to make the payment even after entering this information.

Credit Card Debt Payment with Configuration

Credit card debts are a headache for many citizens due to unconsciously excessive spending.

If you do not pay these debts on time:

  • Two months after the statement date, the bank will refer you to the loan debt advice unit.
  • Customer representatives often contact you in case you have forgotten your debt. If you tell the customer representative that you want to structure the debt, he will help you with this.
  • The credit rating does not matter when structuring the debts of the credit card.
  • You can easily configure your credit card debt, even if your salary is in execution, and many banks take you legally. There is usually no problem in this regard.

Configuration of credit card debt:

  • It covers your debt up to that day and interest on that debt.
  • If you do not repay your debt in advance, banks will set up a debt repayment plan for a period of up to 9 to 24 months for easier repayment of the debt.
  • In order to repay debts of less than 3000 Turkish Liras , banks usually issue a 12-month term debt plan.

One of the other options is:

  • This is a payment plan that you do not receive any payment for a certain period of time and then begin to pay it again. If such a plan is prepared, the credit card will be deactivated and you will not be able to use it again.

Credit Card Debt Payment with Debt Transfer

Credit Card Debt Payment with Debt Transfer

If you have more than one credit card and you are faced with various problems in tracking or paying debit statements, there is a way to make your job easier. You can collect your debt to more than one bank under the same bank by paying in equal installments.

Not all banks allow transactions for debt transfers. Therefore, if there is a bank that you intend to transfer, you should first contact the bank and ask if this is possible.

For debt transfer:

  • When you apply, you will also benefit from taking the documents such as title deed, income certificate with you. In this way, the bank offers you the most appropriate loan options because you have drawn a reliable profile.
  • The bank will first want to check the status of your credit card debts. Therefore, you must either provide collateral or authorize the institution to pay the debts by the bank.
  • Thanks to the loan you will receive from the bank in question, you can close all of your current debts.
  • When this happens, all your debts are collected under a single bank and you will only have one statement. Of course, in case the debt transfer takes place, the money out of the pocket will increase a little more, it is worth noting that.

Credit Card Debt Payment by Consumer Loan

If you do not want to close your credit card on the one hand while paying your credit card debt on the other hand and in case you may need it later, you can do a good market research and take a low interest consumer loan if you do not want your credit rating to fall down because you cannot pay your credit card debt on time. You can close the debt of your card with the credit you have taken. This method will work for you because it is not possible to pay off the minimum amount and finish the main debt.

Also at this point:

  • When you apply for a personal loan from the bank, you must make an income statement to the authorities and convince the authorities that you have not experienced any difficulties in payments so far. In this way, you can get your credit in a much more comfortable way.
  • If your credit rating is low, the bank is likely to have difficulty in lending. Therefore, you should make an effort not to decrease your score during your shopping with banks.

Closed Credit Card Debt How to Pay?

You can pay the debts of the credit card you have closed through other banks, or you can go to the branch of that bank and pay by hand. In addition, if you have a debit card belonging to the bank that you have closed the credit card, you can pay the debts by ATM or internet banking.