When is it worth paying quotas or credit card invoices in advance?

When we started to build Brazil's first Fincare, we invited people to test everything first, give tips on how each thing works and make requests for improvements and new functions. Do you know what these people - called N26 Insiders - always asked us? Advance payment of N26 Card quotas.

Makes sense. Paying your credit card invoice or a purchease's quotas in advance is a very useful financial planning resource. If you know how to do it right, of course.

How paying in advance works

Everyone who has already paid something in quotas on their credit card knows the logic: the amount is deducted in full from your credit limit at the time of purchase, but the payment will be divided into smaller amounts, charged on subsequent invoices over the next few months, as agreed with the seller. The N26 Card is like that too.

Anticipating quotas, then, is nothing more than paying those amounts that were divided before the agreement. If you have any extra money, you go there and pay now something that would appear on the invoice for the following months.

When is it worth anticipating installments

A lot of people who love to buy now and pay later wonder why anyone would do that. If you are one of them, know that there are several advantages to paying in advance - and knowing it helps you understand the ideal time to do so.

• Settle debts,: the most obvious advantage of anticipation is to resolve at once a situation that will be pending for some time. A purchase in quotas is a debt that only ceases to exist at the end of the last quota. By paying in advance, you get rid of it and ease the bill for the next few months.
• Free up space for new purchases,: by anticipating an amount in quotas with extra money, you open the possibility of buying more things in the space that future quotas would occupy in your budget. In addition, it avoids the confusion of having payments marked by 4/10, 2/3 and 7/12 on the same invoice, having more control over your expenses. Your fincare thanks you.
• Upgrading your Modo N,: you know that every R$ 100 paid on the N26 Card invoice is equivalent to 1% more of the CDI in income on the money put into Spaces in the following month, right? So consider anticipating the payment of future quotas on the current invoice to increase the value placed on spaces even faster. You can even ,, how much you would earn.

When is it worth paying the invoice in advance

In addition to the quotas, paying the entire invoice in advance can also be a smart planning feature. Consider doing this when you need to make an expensive purchase. By paying your bill earlier than planned, you immediately make room on your credit limit to buy whatever you want.

And the same Modo N logic used in the anticipation of quotas also applies here. If you anticipate the invoice, each R$ 100 paid for it will add up to 1% of the CDI income in Spaces in the immediately following month.

It is only worth remembering that the N26 Card allows you to pay the current invoice in advance, but this will not affect the due dates or payment of subsequent invoices. For that, you need to change them.

How to change the payment date of the N26 Card invoice

When entering the cards menu within your N26 app, go to "View invoice details" and press the pencil that appears next to the due date of the opened invoice. With this, it will be possible to choose between six different dates and see how the payments of the next months will look like.

An alert will appear asking if you really want to proceed with the change. This is important, because the date can only be changed again after four months. So pay close attention to this.