What is the annual credit card membership?

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Among the information available in your account statements, there is a commission that you must cancel annually. To find out what annual credit card membership is, continue reading this article.

 

What is the annual membership of the credit card?

What is the annual membership of the credit card?

The membership commission, or annual membership, is an annual charge made by financial institutions to their cardholders. This payment is originated by the administration expenses of part of the benefits granted by the credit card. For example, the insurance packages they offer to their owners and the international assistance network.

Financial institutions periodically tell you the amount of the membership commission generated by your card. And in case this does not happen, it is your duty to be informed about this amount so that you avoid inconvenience. Depending on the franchise and credit card category you own, the annual membership can mean hundreds of MX pesos. In the event of any carelessness, said contractual obligation can unbalance your personal budget.

The annual membership of the credit card is an established amount that does not depend on the consumption made with it. Then, it is false the belief that by making little consumption with your card you reduce this fee.

 

Is there a way to waive the annual membership payment?

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Some financial institutions offer promotions to their cardholders, in which they assume the payment of this commission. These promotions are generally conditioned to a minimum consumption level, to which other requirements are added.

For example, the BBPA Bank exempts the card membership payment when the monthly consumption is high. Some consumptions are not considered valid for this promotion, such as that made in casinos. The card has a security chip, which for greater security contains your data encrypted. Also in relief you can see the card number, and the issuance and expiration dates. Your name is also printed on the back, although in flat print.

Insurance Delegation: Save up to 60% on the cost of insurance

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Since September 2010, Finance law allows borrowers to subscribe their disability death insurance with the insurance company of their choice. A very economical alternative, especially for those under 50 years old.

According to a survey conducted by the Good Finance, 37% of respondents are unaware of their right to choose their credit insurance outside their bank, even though the Finance law expressly provides for it. However, by choosing a delegation of insurance at Good Lender, the client can save up to 60% on the total cost of his loan insurance, and benefit from a high-performance insurance solution adapted to his profile.

In case of refusal of acceptance of external insurance, the bank must give written reasons for its decision.

Why is Individual Insurance cheaper?

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Instead of pooling the risks on all the borrowers, the insurance companies establish an individualized tariff according to the profile of the insured. The principle is simple: the older you are, the more expensive it is (over 50 years, the group insurance of the bank often becomes more competitive) and the younger you are, the less expensive it is. For a loan of 200,000 euros, a couple in their thirties save more than 9,000 euros on the total cost of insurance.

More advantageous than those of the banks

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Beautiful economy, especially as on the side of guarantees, they can be more advantageous than those of the banks. For example, some group insurances reserve the right to increase the premium of the insured during the contract. In the event of a work stoppage, some companies simply pay the supplement linked to the loss of salary caused, after social security compensation, instead of paying the full monthly payment as is the case with a delegation. insurance.

A New Law to guarantee the effectiveness of the Finance Law

A New Law to guarantee the effectiveness of the Finance Law

The Finance Law, which deals with consumer protection, particularly with regard to borrower insurance, is currently being discussed in Parliament. Taking into account the fact that banks do not always play the game of competition, this text provides that a mortgage insurance contract subscribed outside the lending bank can no longer give rise to a contract acceptance fee external insurance.
This measure should compel banks to better respect the law.

Registration and Purchases From the Credit Card Plus

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JSC “Jose Sanscrit Credit” constantly pleases its customers with interesting promotions and special offers. So, the payment card with Card Credit Plus overdraft allowed was not ignored either. Its advantages are: instant issue, cashback up to 5%, cash withdrawal abroad without a fee, a limit of up to 600,000 rubles, privileges from MasterCard and other features.

Next, we describe the current promotions for this financial product. And you can issue a miracle card online at the bank’s website.

 

Current special offers on Card Credit Plus

Current special offers on Card Credit Plus

  • Earn 1,000 points for making a card. Just leave a request before 05/31/2019, pick up the plastic from the courier and go through the activation procedure. Next, make purchases for a total amount of 5 thousand rubles. until the end of the month following the design. Under all conditions, you will receive 1,000 bonuses that you can immediately spend.
  • Additional cash bonuses for purchases. It is required to issue a card and register on the promotion page or via SMS until 03/05/2019. Further, in the period from March 14 to June 14, you need to spend money from it. The number of bonuses will depend on the amount transferred. For 3 months you need to fork out at least 80 thousand rubles. You can get up to 2,000 gift points in total.

 

Credit  Card Plus Promotions

Credit  Card Plus Promotions

  • 0% installment plan for goods in certain categories. The bank offers to buy gifts on favorable terms. From March 1 to March 9, choose goods in the amount of more than 5 thousand rubles. and get installments on them for a period of 2 to 5 months. The service is valid on the day of purchase until 22:00 Moscow time. After – the privilege burns. The following categories are involved in the promotion: air and train tickets, furniture, travel agencies, hotels, sporting goods, beauty and health, jewelry, clothing, floristry, bags, appliances.
  • Drawing of 2 tickets for the show “Toruk – First Flight” from Cirque du Soleil in Moscow. To participate, you need to register for a promotion via SMS or on the bank’s website and then pay for goods and services from the card in the amount of 3,000 rubles or more. on 03/22/2019. The results will be summed up until April 12. In total, 30 prize sets of 2 tickets will be played.
  • Cashback 10% for ordering your favorite dishes. Pay for purchases in the “Cafes and Restaurants” category with a card between 8 and 12 am Moscow time and get increased cashback from the check amount. In a month you can return no more than 500 points.