In Spain there are more than 48 million credit cards according to the latest study by the Travelers Quest Bank. The increase in the supply of this type of plastics has also increased the advantages they offer. Among the most prominent are bonuses and discounts.
These advantages can become a great tool to save on your purchases, although the ways in which these bonuses are applied may vary. From the financial comparator MakeMyCash they point out that knowing how these discounts work will help you get the most out of them. They also explain what are the different ways that entities have to apply them and thus help you choose the card that best allows you to obtain this savings.
A bonus is a percentage of the amount used in installment purchases, which will be returned in your favor. In some cases, it can be up to 7%. But in general, one of the requirements to get it will be to make purchases with deferred payment. In this way, even if a discount is obtained for the purchases made, the costs of the applied interest must be added.
1. Capital accumulation
The most common is that it accumulates over a monthly period of time and the capital is returned to the same card as money in your favor. So you can either pay off outstanding capital, resulting in interest savings, or transfer it to a checking account.
2. Credit Limit
The bonus will result in an increase in the credit limit. This option is not highly recommended or practical, as it can encourage you to spend more with the card and it is not very useful if you do not plan to use all the credit you have available.
3. Current account
Another way to get the refund is to enter the cash bonus in the associated checking account. This bonus is the least common, but it is the one that interests you most since it allows you to use the cash in the purpose you want.
In addition to bonuses, credit cards can also offer discounts on purchases. Depending on the plastic you choose, these discounts will vary in their characteristics.
1. Discounts at gas stations
One of the most common is to get a discount when refueling. In this case, the discount will be applied exclusively to service stations attached to the promotion. Obtaining a percentage discount on the capital used in previous refueling.
2. Sale at establishments
This discount will be applied directly to the purchase in the attached establishments. The problem with this type of discounts is that you must adapt your purchases to these establishments to get it.
3. Points programs
Purchases made accumulate points based on spending. In this way, more points will be obtained the higher the amount of each purchase. These points may be exchanged for different gifts specified in the program bases.