What is the Visa “Plan V”?

In the event that you cannot pay the total of the summary and you are certain that you will not be able to pay the difference between the minimum payment and the total payment next month, you have another option to refinance your consumption, and that option is called “Plan V”. This plan allows you to finance the remaining balance on your credit card in fixed installments.

To request this option you can contact Visa Home by phone, since it is a service available only for VISA cards. It is important that you know that this plan will generate new interest that you will have to pay along with the fees agreed in the plan. With which, although this option gives you the possibility of obtaining more installments than those agreed upon at the initial moment of the operation, naturally this financing will have a higher cost. And in addition to the interests, you must contemplate the payment of VAT on the interests agreed in the plan every month.

Example: Julian’s summary received the second installment of $ 5,500, when he could not pay it, he decided to take the “Plan V”, taking that installment to 2 new installments of $ 2,750 each, together with the interest corresponding to plan V and VAT about those interests. That is to say, Julián, the next few months will be paying new interest on the initial purchase.

Economy Tip: Before buying and paying with a credit card, it is essential to have your economy organized and orderly with a budget. And so you can be certain about your future payments for the use of your credit card.

Leave a Reply