Purpose: Beneficial And Easy To Use Credit Card.


Small pieces of plastic in your purse give you a great sense of financial freedom from anywhere in the world. Is it hard to imagine a modern man’s life without payment cards, online purchases, and quick and easy payment for goods and services?

If you are an electronic billing enthusiast, be aware that your debit card and credit card are not the same. But one thing is to know the obvious truth, and quite another to navigate the credit card industry. In this article, we’ll tell you what a credit and debit card is, how to use it, and where to find the best credit card in Latvia.

Credit Card VS Debit Card: Each has its own purpose for use

Credit Card VS Debit Card: Each has its own purpose for use

A debit card is a payment card that stores the cardholder’s personal funds. This may include salary, royalties, pension, allowances, real estate rental income, name-starting funds earned by the debit card and current account holder only. By contrast, credit card funds are essentially a loan granted to a cardholder by a bank or non-bank lender.

If people use their debit card on a daily basis, then a credit card is usually used to:

  • finance big projects: celebrations, travel, home repairs, etc.;
  • to pay for purchases and services abroad;
  • Purchase the items you like and need a few days before salary;
  • create a financial security cushion for unexpected spending.

Additional fees are charged for using your credit card, including:

  • commission for card production, delivery and monthly service – a fixed amount;
  • interest rate – fixed or individually determined;
  • cash withdrawal fee – tied to the withdrawn amount;
  • Fees for checking cash balances abroad, ATMs of other credit institutions, and changes in credit agreement – fixed.

Why are credit cards so sought after, despite the wide variety of loans available in the credit industry? Because with many lenders, credit card interest within 30 – 45 days is 0%. The ability to borrow both large and small amounts in the short term and not pay interest on them is the main reason people apply for credit cards.

Below we will tell you what credit card options are available to residents of Latvia and how to handle your credit card so you always have a winner!

3 types of credit cards for you, your children and your employees

3 types of credit cards for you, your children and your employees

The payment card nowadays is available to every working person, as well as many teenagers and pensioners. Credit cards are also being developed for different user groups, including:

  • for individuals – The largest segment of credit cards are credit cards for individuals;
  • for businesses – some companies offer credit cards to senior employees;
  • Young people – Young people over 18 with a regular income can also apply for a credit card.

Most credit cards are offered by banks, but non-bank lenders mostly offer credit cards to individuals between the ages of 18 and 20. Bank credit cards fall into additional subcategories, such as:

  • standard credit card ;
  • a gold credit card with a higher credit limit and other benefits;
  • premium credit card with the ability to get great bank offers personal consultants, insurance and other pleasurable extras.

However, no matter what credit card you choose, the operating principle will be the same. Keep reading and learn how to use a credit card at home and abroad, in shopping malls and online!

Credit card in action: how to use it?

Credit card in action: how to use it?

A credit card is more convenient than a consumer credit or a credit line because you can pay for your purchase right away without wasting time on processing your credit application and withdrawing money from your credit line.

It’s easy to use a credit card wherever you are:

  • Start using the available credit limit when paying for your purchase.
  • Repays the entire amount spent within a given period (typically 30-45 days) and does not pay interest on using the credit card
  • repay the amount spent gradually over several months, paying interest. Each creditor sets a minimum monthly payment – for example, 20 USD or 5% of the amount spent, etc.;
  • use the available credit limit as necessary.

Bank credit cards are usually linked to the user’s bank account, so the available credit limit depends on the amount of income. For example, the credit limit for SAG credit cards is up to 100% or 200% of your monthly salary. Non-bank lenders set credit limits depending on the customer’s creditworthiness, credit history and age.

When applying for a credit card at a bank, you can indicate in the contract that you would like the funds expended at the beginning of next month to be automatically withdrawn from your current account, but using a non-bank credit card you have to take care of the loan repayment on time.

Using a credit card involves additional spending, but experienced borrowers know that making a credit card costs minimal. Or do you want to save with a credit card? Then keep reading!

Here are some tricks to help you borrow money

Here are some tricks to help you borrow money

The fact that a bank or non-bank lender offers credit cards at an enticingly low interest rate does not necessarily mean that such an offer is available to every customer. Remember that in the financial industry, low interest rates and other nice extras are for a small group of people. However, anyone who cares about their finances and knows how to borrow at the best possible price can get in the way of the elect. Here are our tips for those who don’t want to overpay for a credit card.

1. Maintains a positive credit history

Credit history status is a crucial factor in your credit application processing. A positive credit history means that you are responsible for your finances, balance your spending with your income, and don’t get caught up in loud promotional offers. In a word, be the perfect borrower! Negative credit history, on the other hand, creates completely different signals, so those with a bad credit history have to contend with higher interest rates and lower credit limits.

2. Increase your income

The higher the borrower’s solvency, the more willing the bank or non-bank lender is to cooperate with it. Of course, a high income level does not in itself guarantee low interest rates, but it can, along with other factors, significantly reduce your overall credit card costs. By investing resources and time in your education as you progress up the career ladder, you will gradually gain access to a greater credit limit and better credit card terms.

3. Builds a long-term relationship with the creditor

This applies to people who prefer bank credit cards. While non-bank lenders will almost always offer the same borrowing conditions to new and regular customers, banks will always have less access to outside services than a long-known bank customer. SAG Bank, SamBank, Fitadel and other popular banks in Latvia offer particularly advantageous credit cards to their regular customers.

As you can see, a credit card is much more than a simple loan the borrower receives in his bank account. It can be useful at home, on the go, everyday and in special situations. But where to look for a credit card that fits your requirements perfectly?

Your companion in the credit card industry

Adam Bede - Your companion in the credit card industry

We at Apple Calcate, a credit comparison portal, offer you to compare credit cards and choose the one that’s right for you. We pay special attention to non-bank credit cards because they are available faster and relatively easier than bank credit cards. Choose our platform to compare:

  • credit limit;
  • repayment term;
  • interest rates;
  • interest-free offers to new customers;
  • additional costs of the card (manufacturing, shipping and servicing commissions).

A credit card opens the door to ample opportunities to be used wisely. We encourage you to carefully evaluate your solvency, compliance with your credit card agreement, and your credit card requirements. But if you are convinced that a credit card will work for you, compare offers and apply for the best!