Associate Professor Warns Russians About Major Credit Card Mistake
The expert issued a warning to Russian citizens.
An associate professor of the Department of Finance and Credit at the State University of Management told us what you shouldn’t do with a credit card.
Nikolay Kuznetsov shared his observations with the PRIME agency.
As the expert emphasized, many people think about making money on their credit card. However, such a decision is dangerous due to one simple step that almost everyone resorts to.
Kuznetsov recalled that the system of placing funds on a deposit and spending funds from a credit card looks tempting, especially in conditions of high interest rates.
However, banking organizations can hardly be called altruists, since they always pursue their own benefit.
Therefore, one of the biggest mistakes would be withdrawing cash from a credit card: this operation is subject to a higher interest rate and a significant commission.
In addition, it is often quite difficult to calculate the grace period on your own, which is why people often miss payments.
