How many monthly payments should I pay for a purchase with a credit card?

credit card

When making certain payments with your credit card, you will have to choose the amount of monthly payments you want. If you have doubts about how to determine how many monthly payments you should pay for a credit card purchase, read the following article carefully.

There is no inflexible rule that states exactly how many installments you must pay for a purchase with this credit instrument. There are some criteria based on common sense, which allow us to establish how many quotas are more convenient to use. These criteria are:


Life criteria

debit card

The monthly payments established for the payment must not exceed the useful life of the object purchased with the card. In this way, the recommended monthly payments depend on the nature of the good acquired. We can then establish the following amount of monthly payments:

  • 1 single monthly payment, for recurring expenses such as market, restaurants, transport and services.
  • 6 monthly payments, in case of buying shoes, clothes and accessories.
  • 8 to 12 monthly payments, for vacation expenses. This if they are taken with the recurrence of one year.
  • 24 months, for appliances such as televisions, microwave ovens. Also for devices such as cell phones and computers, which become obsolete after two years of use, on average.
  • 36 monthly payments, for white and brown lines, whose useful life exceeds three years.


Payment capacity criteria

Payment capacity

When paying for a credit card purchase, you should be aware that you are acquiring a payment commitment. Then, the amount of monthly payments must be established based on your actual ability to pay. Remember that more monthly payments means higher interest payments, which is not convenient for you.

Therefore, it is helpful that you choose to cancel in the least amount of monthly payments that is viable for you. Establish what your ability to pay is and, based on that, determine how many installments you can pay. For example, if your payment capacity is $ 500 MX pesos per month, and the product costs 2,400 MX pesos, choose 6 installments. Note that this way you will have to cancel $ 400 MX pesos per month, plus the corresponding interest, which is in your possibilities.


Final recommendation when paying for a credit card purchase

credit card

One recommendation is that you focus your credit card purchases on purchases that you find productive. It is not the same to buy a cell phone that will help in your work, than to give you the pleasure of an ostentatious dinner. Get used to making only productive expenses, and select the monthly payments to pay for a credit card purchase using these criteria. This will guarantee your success in handling this credit instrument.


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