Credit card purchases, advantages of financing purchases

Some expensive purchases will be easier to manage with a credit card because it will let you make payments over time. Find out more.

It is sometimes difficult to pay for everything in one go. However, it is not always necessary to take out a loan, as there are other ways to finance purchases: credit card.

Banks generally offer you two different types of bank cards: a credit and a debit card. Transactions performed using a debit card are immediately charged to the card holder's account. However, by using a credit card you can pay for all the purchases made over the course of one month during the following month or spread payments over several months and pay interest or a deferral fee.

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Después Card
You'll be able to pay for your purchases over time and use it at over 6,000 ATMs.

Deferred payment by card

Payments by credit card are made against the card's credit limit. This means that purchases are not charged to the customer's account immediately, but become payable the following month. In addition, credit cards offer the possibility of paying for large purchases in various installments, offering greater flexibility to manage your outgoings.

By using a card to defer payments you can manage your finances easily and without paperwork. When you purchase something over a certain amount (Euros 50), your card will indicate the expense in question and then, using either online banking or the bank application, you can simply decide to pay for it in one go or in different installments (which will involve paying fees or interest).

In this way, for example, you can finance the purchase of chance acquisitions, effect high payments or simply manage your current expenditure (these types of transactions are always against the card's payment limit and entail the payment of fees and interest). There is also the option of withdrawing cash with your credit card: simply go to an ATM and withdraw a cash amount against the card's credit limit, which you can also repay in installments.

Credit cards also offer certain insurance to protect you from the unexpected. For example, in some cases your card can notify you about transactions in real time, offer you free insurance in the event you are held up at an ATM and protect you against potential fraudulent use of your card. New technologies also allow contactless payment, or the chance to take part in points programs. There are a whole range of advantages that justify using your card to make payments.

Expenses, fees and the most common credit card conditions

Having said all that, perhaps the easiest way to illustrate the advantages of a credit card is to discuss a specific product in greater depth. To be approved for a credit card, a bank tends to require that the cardholder has a regular income and a bank account.

In BBVA's particular case, customers who meet these two requirements can, for example, access a financing product such as the “BBVA Después Card”, which they can use to pay for goods in stores or withdraw cash from their credit account at ATMs worldwide. There is great flexibility of repayments with this particular card, since you can defer payment for one month (in this case, until the 5th of the month after the purchase) or in comfortable installments. You also have the possibility of tailoring your repayments into the installments you choose (up to 36 monthly installments). There is even an option called "zero payment", which allows you to defer payment into up to two monthly installments per year. One of the most notable costs of this specific product is, for example, an annual card ownership fee of €40. In addition, the credit card issue and maintenance fee can be waived if the cardholder meets the requirements of the "Adiós Comisiones" program. For more information about this card, please go to BBVA's website: BBVA.es

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BBVA credit card
Pay for your purchases over time with the Después Card and use it at over 6,000 ATMs.

If you have chosen to repay purchases in full using your card, any purchases you have made with it will be debited to your account on day five of the following month. If you choose to withdraw funds on credit from BBVA ATMs, the bank will charge the relevant fee and interest. If you choose to defer payments you will pay either a fixed amount, or a percentage of the amount spent, as well as the relevant deferment interest. In summary, as a BBVA customer you can benefit from both a credit card and flexibility as regards paying for purchases.

Go to BBVA.es to see an overview of our different credit cards ranges and a description of the characteristics of each. A very useful tool in this respect is the card comparison tool, which you can use to find the card that best suits your needs.

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