Banco Santander's Warning: This Aid Could Be Helpful for You to Make It to the End of the Month

Banco Santander has wanted to clarify an important issue to its customers. It is possible to make purchases and pay for them, even if there are not enough funds in the account. This is possible thanks to the use of credit cards, an option that allows deferring the payment of purchases and paying in the following month.

This system offers great flexibility, but it entails a debt that must be managed properly. Therefore, it is necessary to closely follow the conditions imposed by the bank.

Credit Card or Debit Card: Two Different Options

Banco Santander has designed its cards with the needs of different types of customers in mind. Through its website, users can consult a comparison between the credit card and the debit card.

With a debit card, the payment is directly charged to the account holder's current account. But with a credit card, the system is completely different. In this case, the purchase can be made without having the money available, as the bank advances the payment.

However, the customer must repay that amount within a specified period. Generally, the following month, and in some cases, they may choose to finance the payment.

How Does Banco Santander's Credit Card Work?

When applying for a credit card at Banco Santander, the entity conducts a detailed analysis of the customer's financial situation. This is done to verify the holder's solvency and ensure they can handle the debt caused. Based on this study, the bank assigns a maximum credit limit, which can't be exceeded when making purchases.

Unlike debit cards, which only allow spending the money available in the current account, credit cards offer more freedom. The credit granted by Banco Santander can be repaid in various ways. The cardholder can choose to pay the total amount of purchases at the end of the month, which would avoid paying additional interest.

However, if they decide to finance the payment, the customer can choose between paying a monthly percentage or a fixed fee, depending on what best suits their needs.

Finance Your Purchases and Pay in Installments

One of the greatest benefits of credit cards is the ability to finance purchases, that is, pay in installments.

This means that it is not necessary to disburse the total payment immediately, as long as the credit limit granted by Banco Santander is not exceeded. The option to pay in installments provides great convenience to customers, allowing them to spread the expense over time.

It is important to note that by choosing to finance the purchase, the bank will apply interest on the amount not paid at the end of the month. Therefore, it is advisable to plan purchases well and ensure that payments can be repaid within the agreed period.