Are you considering using a credit card for your purchases but you have doubts because you do not want to go into debt? Perhaps you have a distorted view of the use of credit cards and rather associate it with people who are buried by loan debt and endless interest on "plastic money."
It is essential that you understand that the problem itself is not the credit of your card, but the use you make of it. Credit cards have benefits such as: having a "cushion" against any unforeseen event, ease of repaying the loan, paying month by month, and the ease of financing your money depending on when you are. In addition, if you return your money overdue month interest is 0%.
Barclaycard cards are one of the best options if you are considering asking for a credit card.
Why choose Motorlender cards?
First of all, it should be noted that the Organization of Consumers and Users (OCU) chose these cards as a master purchase in January 2015. This study was carried out by comparing 28 credit cards that you can contract in the United States. The conclusion is that. The organization values this financial product as one of the best on the market:
- Transparency , since at all times you will know the interest to pay. You can check its website Motorlender.es
- Your free credit cards : no opening costs or annual maintenance. Which means that you do not have added expenses, you will only pay if you finance your purchases by interest.
- 1% refund on all your purchases: The OCU also values positively the fact that cardholders receive a 1% refund of the money spent.
- 0% interest: It is recommended to pay in arrears that this card offers, since in this way the cost of interest is 0%.
Doesn't it give you security knowing that an entity like the Consumer Organization bets on Motorlender? It is certainly a good sign when deciding where to ask for your credit card.
Which credit card to choose
This company offers two types of card, each with different conditions. Although both converge, they include the following points:
Payment of the expense without interest: You will be able to pay the money spent on your card within 59 days without paying interest.
Fractionation of payment: With both the Visa card and the Gold card, you can divide your payments month by month. Of course, at least you will have to pay 3% of the money spent and a minimum of € 7.5 as a fee.
Withdrawal of money at ATMs: This is not the most recommended option to use your credit card, since they charge you 5% of the amount you are going to withdraw. It is better to use the card to make purchases in online stores or physical establishments.
Free credit cards without any associated fee for opening or annual maintenance. Also, if you want to request a copy of your card, you will not have any associated costs.
You don't have to change bank: you can order these credit cards online and without having to change banks.
Specific offers and discounts: You will have access to great discounts on products and services, being able to benefit in addition to specific promotions from Motorlender.
Depending on the purpose, the credit you need and the use you want to give your money, one card or another will be more convenient for you. We will tell you about the differences, pros and cons of both cards so that you can assess which type of credit card is best for you.
Motorlender Visa Card
This Visa is one of the most demanded products. We tell you the conditions and offers that you will get with this type of card:
- Up to € 5000 credit: With this card you can get up to € 5000 credit. When you make your request, Motorlender will value the maximum that it can grant you.
- 1% refund of purchases made with the Visa Motorlender. This advantage is not only the first year, you will have this benefit as long as you have your card active.
- Free first transfer to your bank account: If during the first two months you decide to make a deposit to your bank account, you will not pay interest. The maximum will be 80% of the credit available on your card. Remember, just once.
- Free insurance : You have two free insurance associated with your card. Insurance on all purchases you make online and extension of the product warranty for 3 years. You will also have an anti-fraud guarantee, in case they have duplicated or bought with your card.
The interest on the cards is calculated according to the TIN and APR rates. In this case, the values are the following: an APR of 26.70% and a TIN of 23.90%. Both rates have been calculated on an amount of € 1500. Does it sound like Chinese to you? Relax, let's see a practical example:
Imagine that you invest all the credit on your card on a trip to New York and spend the € 1500. Now you want to pay it in installments comfortably during the rest of the year (12 months). These are the costs you would pay:
- The monthly payments would be € 147.71
- Total interest paid after 12 months: € 201.2 of interest + the € 1,500
- The TIN and APR (interest) rates would be € 201.2
If you really use your Visa for a one-time expense or whim and you don't make new purchases with your card, you have the equivalent of a personal loan with the convenience of being able to split the payments as you are most comfortable with. Surely the example has made it clearer to you and we have prevented you from getting lost with unnecessary banking technicalities.
Gold Motorlender credit card
One of the differences with the previous card is not only the maximum credit amount, but the possibility of being able to cancel a debt that you have on another credit card at 0% interest , as long as you fraction the payment in 12 months. This way you will only have your Gold Visa and you can save the money of paying two cards at the same time.
Let's now see everything that the VisaOro option includes:
Credit up to € 7,000: The credit line granted to you will be personalized, depending on your personal circumstances. When requesting your card they will indicate the credit granted.
Discounts of up to 50%: In stores, products and service offers. These offers are variable from month to month, but you will receive all the information to benefit from discounts at hotels, restaurants, shops, etc.
Free insurance: In addition to the free insurance of the previous card, you also have other insurance such as: ATM theft protection insurance up to € 600. Free travel and accident assistance insurance. Protection of online purchases up to € 1000, in case your merchandise does not arrive or is damaged.
Motorlender Center: You can enjoy free tickets, free parking and participate in the raffle for the activities that take place in this center of Missouri.
The interests are 26.76% APR (23.90 TIN): So that you can see it more clearly, we apply the previous example. You spend € 1500 to take a trip and divide the payment into 12 months. At the end of the year you will have paid a total of $ 1701.2 in installments of € 147.71.
Motorlender card opinions
In this section we have collected the pros and cons of the opinions of more than 60 users about Motorlender credit cards. In this way, you will know first-hand the opinions of cardholders and have more information to decide:
Pros of Barclay credit cards
Credit cards without changing banks
They can be ordered online avoiding visits to the bank
Return up to 59 days of the money borrowed without interest
In the opinions of the 63 users, the following aspects stand out as cons:
Credit card denial: some users had an unsatisfactory experience when receiving a response regarding the approval of their card. Several of them claim to have made the request and received no response. In this situation, it is best to reapply in case any information is wrongly completed.
Interest on late payment: Interest on late payment is another of the cons highlighted by users of these cards. Some users have paid € 35.00 for the return of their bank receipt. In general, none of us like to pay more than we should, but this step is solved by having money in the bank on the day the receipt is issued. It is important that you do not miss the dates so as not to accumulate added interest.
How to use your credit card in a responsible way?
- Use your credit card for one-off purchases, trips, appliances , indulge yourself or make it to the end of the month comfortably. But do not use it as if you had available the money from your credit card plus that of your payroll. This will save you scares and think that you have more money than you really have.
- If you make a large purchase or pay for a trip, we recommend that you do not make new purchases with your card until you pay all the credit plus interest. So you will know at all times what you are paying and how much.
Still don't know if Motorlender is your best option? Don't worry, it's normal that you want to compare, so we leave you other options of companies that grant credit cards online, so you can assess and decide calmly.
- Obsiana credit cards of the Bankinter group.
- One credit cards from Grupo Banco Popular.
- Credit Card MasterCard .
Summary: With Motorlender credit cards, you have available up to a maximum of € 5,000, so they can be the solution to obtain a loan quickly using your own card. It is a way to have a mattress for any unforeseen event.