The shopping season arrives with just enough money. The inflationary crisis leaves so little room for households that some will pull loans for Black Friday or Christmas gifts. You don't want to give up technology or fashion. With products that have few basic necessities, the credit option is a bad idea. Especially when it is accepted without reviewing conditions.
Normally you already have to take a break before spending. In the season of discounts and Christmas, it's time to do it twice. "Changing the mobile, changing the clothes... They are not essential purchases," says José Antonio Blázquez, director of the degree in marketing at the European University. These days you can experience something similar to summer, when consumption skyrocketed due to fears of a crisis. Live the moment. “It seems that people are incapable of giving up things that they think they are entitled to,” he continues.
If there is no money, problems appear. The door of financing and headaches opens. As today Black Friday already lasts for weeks and with the sales the offers last until January, the temptation increases. With the rise in interest rates, consumer credit rates, more expensive than the mortgages that receive so much attention, require extreme caution. “From 14%-15% is a very high amount. If it is a one-time expense, it can still be done, but if you always live on credit, it will be impossible for you to repay it ”, explains Miguel Crespo, from the legal area of the Confederation of Consumers and Users (CECU). He cites clients who have ended up “with credit to cover credit”, with 3 or 4 cards “and unpayable interest”.
The end of the year “is one of those times where we consume more, but it has to be thoughtful and informed spending. Normally the claims increase after the return of January ”, comments Irene Becerra, lawyer for the Claimant platform. The great danger is falling into revolving credit, which promises low installments but in exchange charges interest on purchases and makes repayment eternal. If it is not known if it is what has been contracted, you can review the payments: if the fees are low, you have to be suspicious. If the interest exceeds 20%, too.
In some cards you can change the modality so that they stop being revolving. Because to get out of them the dispute is usually tried to close with the entity itself, but in cases of revolving there is not so much predisposition. “People don't have to be afraid of going to court. The success rate is very high and returns of 9,000 or 10,000 euros are reached ”, he details, although it will always depend on the expense and interest that has been applied.
Another warning. “You have to flee from quick credits. They are granted without studying your solvency. In return, the interest payments are very important. They may also include delay costs and other commissions. It is time to see beyond the interest rate ”, warns Crespo. As an example, he explains the case of a person who was charged 30 euros just for sending receipts by mail. With fewer barriers to entry, the entity charges for the rest. On TV and the internet they advertise giving money without conditions.
There is a third stone to avoid: not being captivated by cards offered by the premises themselves. They are seen in furniture stores, supermarkets, gas stations... "They bring benefits in purchases, but they mislead us with financial conditions," Becerra warns. A poisoned hook. “Saving on gasoline with such high interest is not worth it. You can end an indefinite debt”.
In the end, everything goes through precaution. Before applying for credit, it is recommended to check the pre-contractual information, compare offers, see the payment method – that revolving or debt renewed monthly is not mentioned – and that the entity carry out an economic solvency study to see that the credit can be supported. "Many times it is not done, like in shopping centers," Becerra points out about the latest. From the CECU they even call to raise it yourself: “We must carry out an analysis of our situation and an evaluation of the need. See present and future expenses, if the mortgage is raised... If the situation does not allow us to cover an unforeseen event, such as the washing machine breaking, it is already a dangerous situation...".
“Asking for money for the shopping season is foolhardy. Then comes the January slope, but we prefer short-term gratification”, closes Blázquez.
