Easy money is not free money . Every line of credit you have available today is a way of acquiring personal loan (money financed at interest). As with any financial product caught in banking or credit institutions that resources have to be returned with additions, the loans, lines of credit and the cards are all potentially useful as well as very dangerous.
Return the Credit Line
If you have access to credit, you already know that by using the money you have to pay back. In general the terms for this return is correct at the time of contracting the credit line when granted.
The market is very restricted, if you have a clean name, there are many facilities, however, the credit assessment process for citizens with dirty name (bad credit in the square) will have a lot of difficulty in approving official institutions.
When we borrow money, even if it has a low interest rate it is not free money. Using the credit card indiscriminately thinking that the money used does not have a cost, is a great foolishness. Unsecured credit lines, that is, those that do not need to give assets for approval, are certainly the most expensive.
The credit card are without a doubt the most expensive credit, just does not outweigh the Crefisa loan for negatives, the payday loan are the cheapest today, even so the debit balance almost doubles.
The credit limit, although it is free for use within 10 days, if one day passes the interest will be for the entire period, so there is nothing free or free when we talk about banking matters.
Never forget that when using an easy personal loan or pre-approved line of credit, interest will be charged as soon as the money is loaned to you.
It is best to make interest calculations calmly, in some ways it is surprising the accumulated interest rates applied in the operations.