November 15, 2019 Patricia Fuller 0Comment

I have heard from others that they have been contacted by their bank because Good Finance’s credit card will be terminated. They will be forced to look for a new card if they wish to continue using a credit card.

So I asked Grasshopper, who is a big credit card user, to give us information on which credit card to choose. Thanks again to him.

First things first

bank

The first is that credit cards are a very dangerous game. Banks are not crazy to feed you with all kinds of refunds, often paid for almost every purchase you make. They know very well that you will be in debt for just a few months with as much as a few hundred thousand forints, and that many refunds will be profitable. The nearly 40% credit rate is plenty enough to get the bank out of your credit card transactions even after many, many years of repayment.

Therefore, you should only have a credit card when your six-month livelihood is already set aside and you can pay out multiple of your entire credit line out of pocket at any time. One article about the size of US credit card debt and another about unexpected expenses. (You don’t need to sleep much anymore to reach the record for credit card debt in the United States during the 2007 financial crisis.)

In addition, look out for other mines, you can easily run into overdrafts, penalties for late payment, and other spending of a few thousand forints. It’s no coincidence that at most banks, you can only pay the minimum amount by automatic debit, and if you want to pay it off every month, you’ll have to settle it yourself.

The other important thing is that you only make visible money with credit cards if you are serious about juggling them, paying one of your credit cards by using the other, where it is allowed, etc. An average user will not make serious money with a credit card after costs.

Introductions, let’s see what products are available in the market

Introductions, let

Disclaimer : Smart credit card use can still provide you with a substantial refund, the main reason being that the vast majority of credit card customers will sooner or later pay heavy interest rates because they are overcharging, so I didn’t trust anyone to use a credit card.
I do not know all the offers of all banks, I do not know the small letters outside, so before anyone contracts anywhere, read the relevant section of the GTC!

In recent years, the golden age of credit cards seems to be coming to an end, the use of refund cards is narrowing, and banks are introducing successively lower refund limits.
As I try to follow the market, I will now summarize the essential features of the cards I know. the list is not exhaustive, just highlighting the main features of the cards I think are better

General Information

bank

The most common card issuer is MasterCard, but there are also Visa cards.
The advantage of Visa is that they exchange money at a better rate, who uses a lot abroad, it may be worth choosing a Visa, I have no disadvantages, maybe the MC is accepted in a little more places.

As far as I know, Amex is only Goodbank, it is the most problematic card in Europe, and in the US it is probably the other way around.

Many places have gold and standard cards, gold is usually an extra charge, in exchange for some extra services (free travel insurance, airport MC waiting, etc.)

Debit repayment is possible everywhere by wire transfer, so I only highlight where there is a different option (direct debit, check).

Raiffeisen onecard standard credit card
Credit line: $ 100,000 – $ 5,000,000

Expenditures:
Monthly short-term fee 600 HUF
Monthly Closure: Optional 3-4 days, with 15 days for interest-free repayment.
Refund:
0% gambling, Purchase of government securities in the Hungarian State Treasury
1% for everything
3% for grocery stores,
5% quarterly changing in priority categories (culture & entertainment, sports & health, vacation & travel, fashion & apparel).

Returns real money, credited to your credit account by the 20th of the month following each quarter.

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