Credit cards are a very useful commodity for the common man and most of us use it. Some people use it openly with their eyes, while others use it without thinking. If it is used properly, it is a boon, and if you don’t know how to run it properly, there is no greater curse.
What is Credit Card ?
A credit card is a card provided by the bank that allows you to buy goods on loan or pay bills online to the extent fixed by the market. The bill is generated on a certain date and within 20 days you have to pay the bill.
How to Use Credit Card ?
A PIN number is required for cash or payment through a credit card. A one time password is required for online payment from a credit card. Credit cards on the lines of debit cards also have special safety details.
The credit card has a 3 digit CVV number behind it and a CVV number is required in online shopping. The credit card has an expiry date and cannot be transacted without the PIN number of the credit card.
Why you should have a credit ?
This card is of great use to the job class. This allows you to complete all the necessary tasks ranging from filling petrol. People use credit cards in many important tasks ranging from shopping. Payment slot is deducted directly from your deposit account but not in credit card.
Benefits of Credit Card
This card is extremely useful for you if you use the Internet and shop and transact online. You can buy anything by making online payments. You also get a discount on this and time to pay for the money.
In addition, you can also fill your telephone, mobile, electricity bill, insurance policy premium etc. through credit card. If you don’t have enough money to pay, the bill can be paid next month by paying the minimum balance. You must pay a financial charge for this, but your budget will not go awry.
If you suddenly need some money and you know that your bank account doesn’t have that much money. Don’t worry. You can take a loan of up to a certain amount from the ATM machine or onla in credit card. Not only that, you can repay the loan through EMI by choosing the time limit as per the convenience.
Credit cards have as many disadvantages as they are. It is often seen that we like something that is out of our budget to buy immediately. At such times, people often resort to credit cards.
You don’t have a message to deposit a credit bill, because the company doesn’t want you to make all the payments in the first month, but the companies want you to delay more and pay late fees later. At zero per cent interest, the TERMS and Conditions also apply to EMI.
Annual fee on credit card
You also charge an annual fee on a credit card. Each credit card like silver, gold, platinum etc. charges different annually. If you upgrade the card to increase its limit, your annual fee also increases.
Make timely payments
Credit card users must pay its bill on time. Sometimes a person fills the minimum amount and runs the work, but instead he has to pay heavy financial charges. The minimum balance is more of the charges and the person is cheated due to lack of information.