리볼빙 신용등급2023. 4. 14. 15:00
I don’t think I’ll be able to pay my credit card bill this month…
Wouldn’t revolving be better than delinquent payment?
Your credit score will be no problem, right?
For those of you who are reading this article right now:
If you are curious about the meaning of revolving,
Is there really a problem with credit?
I’m sure you’re looking for some helpful information.
Today, what kind of system is revolving?
What should I pay attention to?
so you can know for sure
The rich salaried workers prepared this.
If you read this article carefully, before receiving revolving,
Not only can you set clear standards for yourself,
You will never be hit with an interest bomb.
Revolving Meaning
What on earth is that?
Credit card revolving is a service provided by card companies.
This refers to a system that allows you to carry over part of the payment amount to the next month.
‘Pay off part of the credit card bill next month’
It can be condensed as follows.
To put it simply, I spent 3 million won this month.
If you can’t pay it off on the next month’s payment date
This does not mean delinquent payment, but rather carries over a portion of the amount through revolving.
ⓒ Unsplash
This is the advantage of revolving.
Even if you don’t pay right away
At the same time, without being caught as ‘delinquent’
You can prevent the unfortunate event of your credit score falling.
Pay only 10% of this month’s expenses
You can consider that up to the remaining 90% can be carried over.
Usually, credit card companies can set agreed payment ratios ranging from 10% to 100%.
If you set it to 10%, 300,000 won out of 3 million won is
This means that payment will be made in the original payment month and the remaining 2.7 million won will be carried over.
The hidden truth about revolving
interest in catching people
But the scary part is the interest and fees.
It does not necessarily mean that it will be carried over to the next month.
You must pay a set fee.
Interest increases not in the short term but through compound interest.
Although it varies by card company, the average revolving commission rate is very high, ranging from 14 to 19%.
ⓒ Unsplash
In other words, it does not mean that you will be able to pay off the credit card bill that is due this month for free next month.
The carried over amount is given the name of ‘commission’.
If you spend 1 million won every month and continue to use the credit card revolving service
At some point, it may accumulate and you may be charged a payment higher than 1 million won.
ⓒ Unsplash
Moreover, there is another scary thing.
Even if revolving is used, there is a minimum payment amount.
If you do not pay properly, it will be classified as delinquent and additional interest rates will be charged.
What if delinquency starts like this?
It is very likely that your credit score will go down and your revolving interest rate will also rise.
In other words, the debt gradually increases.
This is why it is called ‘people-catching interest’.
The reason why I still use it
You must know and use it.
According to the Credit Finance Association, the revolving carryover balance last year exceeded 7 trillion won.
It is said to be a shortcut to falling into the ‘interest bomb’, but why does the revolving balance continue to increase?
ⓒ Unsplash
The biggest advantage is that there is no product like this for putting out fires in a hurry.
Another advantage is that it prevents late payments and prevents your credit score from dropping.
However, as explained above, the interest rate can increase like a snowball, so we recommend that you only use it for a short period of time.
But most importantly,
It was the cause in the first place
It’s about changing your spending habits, right?
Salary earners will support you in your golden years.
Invest properly in 2023
I want to try it
Where to start
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This is the official blog of rich salaried people who will buy their own home and enjoy a happy retirement.
