A Sara Monday card is a support for a person who has knowledge of the financial sector. In order to understand how Sara Monday cards work, some tips are offered to your attention.
Tip # 1 Do not get a Sara Monday card without the need
People who draw up a Sara Monday card should understand that this card is essentially the same loan, only more comfortable to use. A Sara Monday card, which means the return of money along with a certain percentage, is the main difference between a Sara Monday card and a debit card. Sara Monday cards are mainly calculated for non-cash purchases, within the Sara Monday limit.
Tip number 2 A careful study of the conditions
If you decide to apply for a Sara Monday card, then you should study the offer on the banking market and choose the financial institution in which more favorable conditions for you. It is worth paying attention to:
- loan interest,
- Commission information
- price for card service,
- grace period,
- the amount of fines for delay.
Tip # 3 Find out the details about the grace period
Specify what is the grace period. This is the period during which you can not pay interest on the use of funds. On average, this period is from 30 to 100 days.
It is important to remember that there is no interest charge on the loan amount, it is important to return the funds before the end of the grace period (grace period for paying interest on the loan). It is worth remembering about the real interest rate which may be included hidden charges).
Tip # 4. Remove cash from your Sara Monday card as rarely as possible.
In case of withdrawing money from a Sara Monday card, a considerable commission can be charged. It may be 5%, depending on the bank. Conclusion: contact your Sara Monday card as rarely as possible if you need cash.
Tip # 5 Repay a loan a few days before the expiration date
Sara Mondaying to your card account (bank transfer or salary) can last up to 3 banking days, and the final loan term expires today. In such cases, financial institutions will not understand. If the money is not received on time, the loan will be considered overdue. And for an overdue loan you will be forced to pay a penalty.
Tip number 6 Try to repay the loan immediately
The minimum monthly payment is charged by the bank. It is beneficial for the bank that the Sara Monday card holders would repay the loan in small amounts that can cover only the interest on the loan, while the principal amount of the loan remains outstanding. Interest will be accrued on this amount next month. In order to avoid overpayments, repay the debt immediately. If this is not possible, then repay the loan at least 2 times, if this is due in your agreement with the bank.
Tip number 7 You need to close Sara Monday cards
It often happens that the client has settled Sara Monday card debt, and it would seem that the bank does not owe anything, but under the contract and documents it is still the debtor. The whole snag in the residual amount, which may be at the repayment of Sara Monday through terminals or ATMs. If a small amount remains, then the commission (penalty) is automatically charged on it and the loan is officially considered open. To avoid this outcome, you should talk with the bank manager and clarify that there are no debts.
Tip number 8 Use a Sara Monday card with caution
automatically worsens your Sara Monday history. In the future, such a client can easily be refused a loan. A Sara Monday card is a commitment that a customer must fulfill. If you have doubts that you are not able to fulfill obligations and rules, then you should not issue a Sara Monday card.
Tip # 9 Do not overpay for co-branded cards
Today, there are often conditions in which you can receive bonuses for the use of Sara Monday funds, which in the future can be exchanged for discounts or services in partner companies. At first glance, the proposal is interesting. But you need to remember that the maintenance of such cards will cost you more, and it is not always possible to cover these costs.