Everyone likes to enjoy money and buy things, but almost nobody likes to pay. Having debts is not pretty in any circumstance and that does not mean that the credit is bad, but once we have used it, we must be responsible for paying it on time.
But if what you wonder is if there is any way to get out of that pair of debts that you have pending faster and better, the answer is yes and it is through capital payments. Also called prepayments of debt, they refer to the extra percentage you will pay to cancel your credit, that is, pay more than the monthly fee. By law, banks can no longer charge commissions for making a capital payment, so it is a safe method to end their debt early.
Now, where to get that money?
There comes the most rugged part of the matter, you have to strive to save a monthly amount. Do you want to lose weight? Take all the money you used for junk food, candy and others, and allocate it to your credit. Buy cheaper brands in the supermarket, seasonal food, stop going to the movies for a few months and save all extra income. With the necessary effort, at the end of the month you can pay an extra fee to your credit.
When making these payments you can rethink whether to reduce your quota or reduce the term
The recommendation is to reduce the term, since the fee was the one agreed from the beginning and therefore, should be able to pay it. Instead, reducing the term will make you feel debt free in less time.
Something that you should consider is that one reason to fall into many debts is to have a plastic that does not suit you, since it gives you a high interest rate and zero benefits. Will this be your case? Don’t forget to compare all the credit cards in Rosa and request the one that really suits you.