How to Pay Off Debt Using Your Credit Card Limit

A credit card can be an excellent ally in controlling monthly expenses and, in addition, a facility to guarantee an amount that is always available. With the use of this tool, it is not necessary to withdraw cash. This provides more security for you and your family. A good part of the monthly fixed expenses can be paid with a card, in addition to those occasional expenses (leisure, food and culture) that are already typical. If you want to use this benefit more in your day to day, find out now how to pay off debt using your credit card limit.

It is a benefit that aims to make everyday life easier, ensuring that debts are always automatically paid on the correct dates, without the need to go to banks or stores. To take advantage of all these benefits, find out now 3 ways to use your credit card to pay your debts and organize your financial life more.

1. Include some fixed family expenses on your credit card statement

Some companies have subscription plans that can be purchased using a credit card. It is a facility for the customer and for the company, as payment is made on a recurring basis, without delay, every month, avoiding interest and possible suspensions of the service. Netflix, an online entertainment company, and Spotify, a music broadcaster, are examples of these networks that allow payment by card.

For this to happen, the customer just needs to inform, in the acquisition form, the data of a valid credit card. After that, the stipulated amount will be charged every month on the following invoices. Some companies offer discounts and benefits to customers who contract services through a credit card, with a loyalty plan, as is the case with some telephone operators.

2) It is possible to make purchases with virtual cards

In addition to pay off debt using your credit card limit, a very important feature that can also be taken advantage of is the use of virtual cards for online purchases. Many banks allow, through mobile applications, the customer to create a disposable virtual card to make specific purchases more securely in digital media.

Therefore, when carrying out transactions on the Internet, there is no longer room for fear in relation to your credit card details, since it is possible to have this facility available.

3) Pay friends and other people using the card's mobile applications

Some prepaid credit cards have an incredible facility: they allow the transfer of funds between users of the same card. This means that if you need to transfer a few euros to pay for a dinner with a friend, you can deduct it from the amount available on your card account. The user will receive the credit instantly and will be able to use it as he/she prefers, including withdrawing it from an ATM. This tool facilitates the division of expenses and is also a very functional new way to Pay off debt using your credit card limit.