Bridgepayday, Bank Popular money reserve
As we've discussed on other pages, revolving credit cards are everywhere, from department stores to finance companies, and of course, banks. The Bank Popular is no exception to the rule and presents here its Bridgepayday revolving credit card , supposed to make life easier for its users.The Best Way To Compare: Request A Free Online Quote
What is Bridgepayday?
Bridgepayday is more than an additional line of credit. This is a credit card , allowing you to pay for purchases with cash or credit . This credit is in fact a reserve of money. Thus, your credit card now offers you two payment options, depending on your needs, and, above all, depending on the cash available on your accounts.
This option, allowing you to pay for deferred purchases, but with interest, is directly compatible with the range of Visa credit cards . The card does not cost more than a “normal” Visa card, and it enjoys the same assurances and guarantees .
To take the example of the Visa Classic card, distributed by Bank Popular, it is available in immediate debit or deferred debit, and in cash or credit payment. It is therefore a completely conventional blue card, but simply allowing the option "on credit" in addition. It is therefore possible to pay or withdraw money from the cash machine or on credit, with this card.
Of course, the credit account is limited to a limit, left to the discretion of your Bank Popular advisor. The card cannot be backed by an endless supply of money. In addition, as with any reserve of money, or revolving credit, a monthly payment remains due each month after using the credit option. And this, until full recharge of the revolving credit .The Best Way To Compare: Request A Free Online Quote
The characteristics of Bridgepayday revolving credit
The Bridgepayday credit is therefore a revolving , current over a maximum repayment period of 3 years (if the amount used is less than $ 3,000), or 5 years (if the amount used is greater than $ 3,000). The amount of monthly installments is flexible , within a certain limit set by the repayment period, and is at a variable rate, depending on the amount used.
This rate, which can be adjusted, is between 7.60% and 19.96% excluding insurance. As the total cost of credit depends entirely on the duration of the credit, it is impossible to quantify here. Nevertheless, we give you the codes essential to understanding the mechanisms of revolving credits in a page provided for this purpose.
Note that the Bank Popular imposes a monthly repayment floor ($ 16), and that this bridgepayday revolving credit card system works as well with Visa Classic cards, as the Visa Premier and Visa Platinum cards distributed by the Bank.
Additional detail: The credit card option only works on French soil . It will therefore be impossible for you to pay for a purchase on credit abroad. No more than for distance selling elsewhere (internet, telephone or mail order).
In summary, this type of card can be interesting for seizing a buying opportunity . An item that you normally can't buy right away, but could pay for a few days or weeks later. So you can be sure you won't miss out on any great deals. But remember to repay as soon as possible, because this flexibility comes at a very high price.