How credit card works?
0 likes138 views
A credit card allows you to borrow money from a bank or issuer to make purchases. It is a plastic card with identification information that authorizes the cardholder to charge purchases to their account and pay periodically. Credit cards can be used worldwide at millions of locations but may have fees for foreign use, so check the agreement before traveling abroad. When approved for a card, a credit limit is set as the maximum amount that can be charged and spent using the card.
How credit card works?
- 1. How Credit Card Works Credit is money that a bank or credit card issuer lends you. You can get a loan for a specific purpose, such as financing a new car, buying a home or paying college tuition. A credit card is a thin plastic card, usually 3-1/8 inches by 2-1/8 inches in size, that contains identification information such as a signature or picture, and authorizes the person named on it to charge purchases or services to his account -- charges for which he will be billed periodically. You can use your credit card worldwide as they are accepted in millions of places at home and abroad, so they are very handy in any language. There are often fees or charges for using your credit card overseas, so check credit card agreement before you go says Sachin Karpe.When you get a credit card you will be given a
- 2. credit limit. This is the total amount you have available to spend using the credit card. You should always leave some available credit on your credit card for any interest to be applied. Find Sachin Karpe A Business Consultant @ https://www.facebook.com/sachin.karpe.9638 Follow Sachin Karpe @ https://twitter.com/Karpe_Sachin Websites : http://sachinkarpe.co.in http://sachinkarpe.net http://sachinkarpe.co.uk