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Credit Cards: Buying No Money or No Interest

For Czechs, each card is still a credit card. Let’s start by simply describing the differences between the cards:

 

Credit card versus debit card

Credit card versus debit card

Credit card

  • Whose money: You pay with the lender of your card provider up to a predetermined amount.
  • How to obtain it: Upon approved request from the provider.

 

Debit Card

  • Whose money: You pay only with your money. You can spend as much as you have in your account.
  • How to get it: Usually automatically to your bank account.

 

Why have a credit card

Why have a credit card

A quick purchase of anything, even if I just can’t do it, will probably affect everyone. But less known are the other advantages of credit cards.

With the card you also usually get discounts to selected stores or access to loyalty or bonus programs . The more you pay with a card, the more you benefit from it.

What makes a credit card a better option than an overdraft, for example, is mainly an interest-free period . Simply put, if you manage to return your card on time for your purchase on time, you do not pay extra .

 

Example of credit card benefits

Example of credit card benefits

Let’s take a look at a specific credit card, the Matt Helm Premia Card, which has a sophisticated system of benefits:

  • Interest-free period up to 51 days.
  • Discounts of up to 10% in an extensive network of shops.

  • Collect premium CZK for each card payment for which you receive vouchers for future purchases.
  • Insurance of expenses and misuse of the card, contactless payments and the possibility to pay with it worldwide.

 

Finally, tip: advice on how to use your credit card properly

Finally, tip: advice on how to use your credit card properly

  1. Watch the interest-free period, save.
  2. Make the most of discounts and one-time promotions associated with the card.
  3. Never leave a PIN with the card.
  4. Always contact your card provider when you encounter repayment problems – they will help you resolve the situation if they know about it in time.