Do you have a Mastercard credit or do you have to deal with it because you cannot pay for a purchase immediately? Keep in mind that the costs can rise considerably and that there is no mandatory repayment. In practice, this means that you can keep the credit running for a longer period of time, so that you ultimately pay relatively high costs. Instead, it’s a good idea to take a critical look at the Mastercard credit and redeem or credit it as soon as you have that option. In this way you avoid high costs, while you can make the purchases you want.
Undesired Mastercard credit
Are you dealing with an unwanted Mastercard credit or are you currently dealing with it? As soon as you make a purchase with a credit card, the money is not immediately debited from your account. This generally happens at the end of the month. Do you not have enough money in your account at that time? Then there is automatically a Mastercard credit. However, this can go quite well in the papers. You pay a high interest rate and there are no plans to redeem this in advance.
Loan a credit card loan
Fortunately, you can retype the Mastercard credit. For example, you can choose to transfer the credit to a mini loan. Suppose that you have accrued € 500 in Mastercard credit and that you actually want to get rid of it as quickly as possible. You can then take out a mini loan for the same amount of € 500. You can then use that money to repay the Mastercard credit. You are directly off that, while you then have a few weeks to repay the mini loan. That way you can make a plan in advance to repay the amount and you will not suddenly have to deal with an unwanted Mastercard credit.
Repay Mastercard credit
Do you have the Mastercard credit and do you want to pay it off? Then make sure that you make a plan for it yourself. View how much credit you have withdrawn and how much you can pay off per month or per week. By making a plan for this in advance for yourself, you will prevent the loan from being held for too long and the costs rising unnecessarily high. With a Mastercard credit it is important to be critical and to take action as quickly as possible, so that you can control the costs.