Credit card: 3 solutions that will reduce the fear of billing day

There is no one who does not know the feeling of tension before the monthly charge of the credit card.

You can relax: a test we conducted among the credit companies found that max offers its customers a variety of convenient solutions that allow us to better control the management of credit card charges

in collaboration with max

14/09/2022

Wednesday, September 14, 2022, 11:13

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Thanks to the solutions for controlling the monthly charge on max credit cards, the charge day is no longer "scary" (Photo: ShutterStock)

The summer months are known to be busy with expenses.

Vacations in Israel and abroad which can be expensive, moving house which is usually carried out during the break from studies and an opportunity to renovate and paint the house ("In the winter the paint takes a long time to dry", any renovator will tell you). We pay for many of these with our credit card, and when the monthly bill approaches and it turns out that The income and the amount of expenses are a bit too tight - we get under pressure. It doesn't have to be that way and there is no need to see the bank deficit looming around the corner.

Three options for controlling the monthly billing, offered by the max company, give its customers the ability to split the upcoming payments, transfer part of them to the following months, and so on Avoid withdrawing too much from the bank account at once.Choosing the

Various credit companies offer a service that allows you to determine in advance how much to pay on the monthly billing date and transfer the balance of the billing to the following months plus interest.

So, for example, if the customer made credit transactions for 5,000 shekels in a certain month but asked to be charged only 3,000 shekels - the remaining 2,000 shekels will be transferred to the next month, plus interest.

Since the debit balance does not disappear, but only moves on, this solution is recommended for a limited period, when your expenses on the credit card are higher than the amount you can pay.

There is no doubt about one thing: paying in this way is better than going into the red at the bank.

To this is added the advantage of tracking: the max company will send you an SMS message with the amount that has been reduced and rejected, thus allowing you to simply monitor the situation and make flexible changes accordingly.

Every month you can change the amount of expenses in the max application or website according to the income and thus work efficiently, while saving costs.

The max company offers its customers to test whether the service is suitable for them with the help of an experience for the first three months, in which the deferment of the charge will be done without interest.

After this period, interest will be added to the basket, which, as mentioned, is often cheaper than the minus interest at the bank.

The amount of the fixed monthly charge can be increased and decreased at any time, up to one business day before the monthly charge.

The service is offered to all credit card holders of max.

Excludes Pepper, Debit and purchase cards.

New customers can also join the service, after ordering a max card.

Another option is to split the upcoming monthly charge in installments, when you see that the charge on the credit card is high compared to what you are used to.

This is on the assumption that it is over NIS 600 (and in any case it is reasonable to assume that if it is less than NIS 600, no division is required). A max customer can choose to divide the debit amount on the credit card into 3 to 36 payments, with each payment having to be in the amount of At least NIS 200. The payments carry interest according to the terms of the card (you can find out about this on the website and in the max app).

The division of the monthly charge into payments can be made up to one business day before the date of the charge. Also the cancellation of the requested division of payments (if it became clear to you that you are actually able to meet the charge) , can be done by this time. And what's more: even if you have defined such a distribution of payments and it has started to decrease, while you see that you will actually be able to pay the balance "in one go" - this can also be done and at no cost all these actions can be done easily on the max website, and in the company application.

After a request to split a monthly charge, the first payment is expected to fall on the date of the second charge from the moment it is made.

That way you will enjoy one month of postponement.

For example, if the card's billing date is 9/2 and on 8/25 you asked to split the future billing - the first payment will only be made on 10/2.

Three options for controlling the monthly billing, offered by the max company, give its customers the ability to split the upcoming payments (Photo: ShutterStock)

Splitting a transaction into payments

Splitting a transaction into payments in the business is an old and common practice.

But what happens if you forgot to ask the business to carry it out or if only later you realized that it was a heavy expense that would have been better spread over several months?

Or did you spread a large deal with too few payments and you want more payments?

max company gives you the opportunity to do this in retrospect.

Even if you paid for a transaction using a max credit card in one payment at the business (or on its website) - it can be spread over to payments on the website or in the company's app up to 30 days from the date of the transaction.

This can be done, starting from an amount of 75 shekels.

The spread option is between 3 and 36 payments (depending on the amount of the original transaction), with each payment having to be at least 25 NIS (or 50 NIS in a spread of over 18 payments).

The way to make the distribution is simple: enter the details of the charges on the website or in the application.

Next to the 5 largest transactions you have already made, you will see the split button in the details of the charges.

This does not mean that additional transactions cannot be divided into payments.

To check this, click on the relevant transaction and enter its details, where you can find the "Divide the transaction into payments" button.

When the division cannot be performed, for various reasons, this option will simply not appear.

After you have chosen the desired number of payments and approved to make the distribution and pay the interest (which varies depending on the circumstances) - the transaction will no longer be a "normal transaction" but a "credit transaction".

Thus, thanks to the solutions for controlling the monthly charge on max credit cards, the charge day is no longer "scary".

You just need to take charge management into our hands, in one of the various options available to us.

For all solutions that will ease the monthly charge on the credit card>>

Not a max customer yet?

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Legal notes:

The distribution of the monthly charge:

failure to meet the repayment of the loan / credit may result in the charge of interest, arrears and execution procedures |

Subject to the underwriting conditions and the lender's approval: Max It Finance Ltd. | The product bears interest according to the card's conditions | The

product is available to max non-bank credit card holders with a monthly transaction turnover of NIS 600 or more who are not attached to a fixed debit plan fixed

debit:

Non-compliance with the repayment of the loan / credit may result in the charging of interest, arrears and enforcement procedures |

Subject to the underwriting conditions and the lender's approval: Max It Finance Ltd. | The publication does not constitute an offer to provide credit and Max is entitled to change what is stated in it at any time | The interest benefit is for new entrants only | At the end of the benefit period, the service involves payment of interest | Subject to the service conditions | The balance of the amount, which is not will be charged, will be added to an interest-bearing cumulative transaction basket. This balance will not include charges made in favor of "money on the side" / "savings policy" products | You can set a minimum monthly repayment of 500 NIS or 1% of the credit limit, whichever is higher | The amount of the monthly charge will be updated within a day Businesses, if the billing day is tomorrow, the update may only apply next month | Details about existing loans on your card can be found on the monthly detail pages,

subject to a minimum interest rate of prime + 5% | Conditional on presenting documents verifying the interest on the minus at the bank

Layout of a transaction for payments:

Non-compliance with the repayment of the loan / credit may result in the charging of interest, arrears and enforcement procedures |

Subject to the underwriting conditions and the lender's approval: Max It Finance Ltd | Standard transaction layout + post-debit transaction layout: the product carries interest in accordance with the card's terms, starting from the date of application | Minimum number of payments: 3 payments, maximum number of payments: 36 payments | Minimum amount for the layout Transaction: NIS 75 (without interest) so that the minimum of each payment will be 25 NIS (without interest), over 18 minimum payments each payment will be 50 NIS (without interest), transaction layout after billing: up to 30 days from the date of billing.

The full transaction amount will be transferred to the bank account within up to 3 business days.

For the period from the date the loan was placed until the date of the first monthly payment, the loan will accrue bridging interest.

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