Credit Card Payoff Spreadsheet – Payment cards differ in particular in terms of ceiling amounts and types of debit (immediate, pre-authorized, deferred).
How does it work ?
In the case of a systematically (or pre -) authorized card, the debit is only possible (whether it is a cash withdrawal or a purchase payment) if the account is sufficiently stocked. This is a guarantee that can be useful if you tend to over-heat the card or if the card is for your child. Note that this card does not necessarily prohibit overdraft authorizations. In this case, the flow rate will be limited to the convention threshold for the maximum allowable overdraft.
Instant debit or delayed debit: what to choose for your credit card ?
With instant debit cards, each use is directly passed on to your account balance. With deferred debit cards, purchase amounts are debited once a month on the date of your choice. Example: the 25th of the month : purchases made after the 25th of the month are debited at the end of the following month. However, ATM withdrawals are debited on a day-to-day basis.
The Deferred debit is in a way to a credit of a maximum month corresponding to the time between the moment of the purchase and the next 25. This ensures that you are not in overdraft position when the end of the month is difficult while waiting for the payment of the salary. But in fact this credit is not completely free : at the same quality of service besides, the Deferred debit card is charged more than the immediate debit card.
In addition, if you have some difficulty managing your personal finances reasonably, it may be better to opt for the instant debit card.
Don’t forget that thanks to the online access to your account, now offered by all banks, you can know at any time where you are.
Credit Card Payoff Spreadsheet
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