Last year there were around 7.7 million credit cards in circulation in Portugal, according to the data available at the Bank of Portugal. Although it is a card widely used by the Portuguese, especially considering the associated credit lines, there are also some advantages in its use.
But when used too often the credit card may be responsible for debt situations and so its use must be made in a balanced way. But using a credit card in a balanced way can offer other perks or discounts on purchases, especially if your credit card has a wide range of associated discounts.
Then find out how the credit card works at a discount.
Most credit cards in Portugal offer a rewards program to holders. Discounted credit cards offer discounts to partners of credit card issuers. So, whenever you make a purchase from one of the available partners you will have access to a discount. At present, there are credit cards that offer between 2.5% and 50% discount on the network of partners.
What are the advantages?
If you want to opt for a credit card with discounts know already that you will have access to a discount that can go from 2.5% to 50% discount. The best discount credit cards offer these discounts at supermarkets, clothing stores and computer products, fuel stations or cultural and sporting activities, among others.
For new credit card users or for those who use this type of card less times than expected, this type of card may be ideal. But for that, you should choose a non-annuity card or a credit card with no fixed costs.
You should also always check the value of the Annual Effective Annual Rate (APR) and the Annual Nominal Rate (TAN). Do not forget to check if the discounts offered by the credit card meet your tastes, in order to maximize its advantages.
Discount Credit Card: What Care Do You Have?
First of all you should not use the credit card just because you have a discount on the purchase. They dictate the good rules of personal finance management that should always evaluate your purchases, especially those you make on impulse.
Another care you must take is to ensure that you will use the advantages associated with using the card. If you do not, you’re not getting the most out of your discounted credit card. Learn about credit card purchases here.
If you also use your credit card frequently, you should also pay close attention to the interest rate that is being charged. Paying a high interest rate on purchases you make with the card may not offset the discounts offered by credit card partners.
Go to our comparison platform and find more ways to save money on financial products such as credit cards. Visit our blog for more tips and personal finance articles.