We checked which credit card can be used to best finance holiday expenses (and not only). Our analysis shows that such cards can be found in Junas Bank, Allain Bank and Pol Aldo Bank.
The turn of the year is a period of increased spending for most of us. We buy gifts and products necessary to prepare Christmas dishes. Some of us also go to the family during the Christmas and New Year period, often covering several hundred kilometers. If we add the costs associated with school holidays, which for the first provinces start in mid-January, the picture will be complete. Of course, it is best to finance such expenses out of your own pocket.
However, what to do if your home budget does not cope with all planned expenses or when there are previously unplanned expenses (e.g. purchase of new skis for offspring going to the mountains)? In this situation, you must use an external source of financing, e.g. a credit card. Which credit card will be the best for financing holiday (and not only) expenses? We check.
What did we evaluate and how did we score?
We have assumed that we are looking for the best credit card for a two-person household from a city of 100,000 inhabitants. The family’s monthly income under the employment contract is PLN 4,500 net. We also assumed that our client performs monthly cashless transactions with a card worth PLN 1,000.
In the ranking we compared:
- basic parameters associated with credit cards (such as e.g. annual usage fee or interest-free period),
- parameters related to repayment in installments (including the minimum amount that can be split into installments, interest on installment repayments, and the minimum and maximum period for which repayment in installments can be repaid).
We also checked in which banks credit card holders can count on discounts when paying at retail and service outlets.
Each card could receive a maximum of 106 points. The scoring and assumptions for the ranking can be checked by clicking on the banner below.
MasterCard Standard credit card number 1!
The first place in the ranking went to the MasterCard Debit Bank Junas Bank credit card , which we awarded 60.6 points. The person who will reach for this card will not pay for its issuance and use (until the end of 2017 a promotion is underway, under which the card holder will be exempted from the annual card fee after making a transaction for an amount of at least PLN 500 during two billing cycles following the date of the card agreement), will be able to use the interest-free period of 56 days, and non-cash transactions made using the card will bear interest at 10%.
Non-cash transactions can be repaid before the interest-free period or spread out in installments (they can be from 6 to 48), and the minimum amount that can be divided into installments is PLN 200. The mamBONUS benefit program is also added to the card, combining the rebate offer with the loyalty program. Bank Junas Bank credit card holders can take advantage of discounts offered by over 40 Partners.
Second place for MasterCard credit card OK!
Mastercard OK is in second place in the ranking ! Allain Bank, which won 59.5 points This card is distinguished by the longest interest-free period in the entire statement, amounting to 59 days. Our client will not pay the annual fee of using the card. The interest rate on cash transactions made with the card will be 9.5 percent.
He will be able to spread his unpaid debt (at least PLN 100) into 48 installments at an interest rate of 5%. annually. Card Holder OK! paying it in clothing stores, stationery, bookstores, home appliances, electronics and computer stores, cinemas, theaters and restaurants, hotels, travel agencies, for train tickets, in beauty and hair salons, will receive a 1% refund. value of each transaction (maximum PLN 75 per quarter, i.e. PLN 300 per year).
The bronze won the Comfortable Visa credit card
The leader of the ranking closes the winner 55.6 points Comfortable Visa credit card offered by Pol Aldo Bank. This is the only card from the top three of the ranking, which the holder can once a year spread one transaction into 10 installments without any fees (the minimum transaction amount that can be divided into installments is PLN 300).
The interest rate on non-cash transactions is 10 percent. per year, and the non-cash period lasts 56 days. A monthly fee of PLN 5 is charged for using the card. It will not be charged if non-cash and cash transactions of at least PLN 500 are settled in a given cycle. Holders of a Comfortable Visa credit card use the Visa Offers rebate program.
A credit card – if properly used (e.g. if you don’t use it to withdraw cash from ATMs) – will be a good way to finance your holiday expenses. Let’s just remember – being aware of deferred payment for purchases – not to go crazy in stores too much. If we listen to the quiet whisper ‘use me’ coming from the wallet too much, reading the bank statement can effectively increase the pressure.