If you have a card and thought why pay a credit card annuity, today we decided to write a text to talk especially about this fee and why we should pay it.
After all, if we will only use a value and then return it, why should we pay the annuity? To answer this question, follow our text below!
What this article covers:
Why pay the credit card annual fee?
By paying the annual fee for the card, the individual signs an agreement to use the services of that banking companyapart from that, if the person does not pay the annual fee for the card, he may have his credit cancelled.
What is the credit card annual fee used for?
When we use a service, we need to pay for it. Think of it this way: a financial institution “deposits” in your hands, large sums of money, loans, performs bank transfers, needs to pay employees and everything else that a company needs to function. In this way, it is clear that the annuity fee comes in as a way not only to maintain yourself, but also to improve the services provided by the company to you.
A lot of people ask themselves why pay an annual fee on a credit card, because in addition to paying the interest if you can’t settle the invoice on the closing date, paying the annuity, even if it’s a minimum amount, makes all the difference in the budget. But what happens is that this fee is firstly an annual amount (it is not for the whole month) and secondly, it serves for the customer to continue to enjoy the services and goods that the company provides.
When is it worth paying credit card annual fee?
If you ask yourself why pay an annual fee for a credit card if you don’t use the service, then your answer is here!
It is only worth paying the annual fee if the service provided by that company is for you, if it provides everything you need and if you are satisfied with these services. Otherwise, it’s not worth paying the annuity.
What happens if I don’t pay the credit card annual fee?
If the annual fee for the card is not paid, there is a risk that the card will be blocked or that the person will default, as the fee is already present in the invoice.
However, each bank has a different way of acting, some can block the card, others accept negotiations and others can charge via cell phone or call.
Well, if we think about it logically, who wouldn’t want a card without an annual fee, right? However, this varies from person to person, as it will depend a lot on why you pay the credit card annuity, that is, what that bank or institution represents and whether the services that the customer wants are present on the cards where it is not necessary to pay the fee. .
Currently, most digital banks do not have an annuity and it is possible to have a very good credit limit.
If you’ve followed us this far and now you know why to pay a credit card annuity, stay with us in our next articles!