An Introductory Guide To Credit Card
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Written by: pankaj
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Date: Mon, 30 Jan 2012 |
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The credit card can be characterized as plastic money which is used by an individual for making payment and it helps in buying products/services on credit. It makes our life easy as it becomes easy to purchase anything even if you have zero balance. By one card swipe, it becomes easy to do shopping and you will not be required to carry your cash at all places. The credit card is different from the debit card as you cannot use debit card when you have no balance in your account but it is possible to use credit card even with nil balance.
What are the advantages of credit card?
Credit card gives an option of free credit period, which can be anywhere between 50-55 days. However, it depends upon bank’s choice and the calculation of credit period is done from the date of billing cycle. The credit card plays a vital role in purchasing goods/services online or over the phone. In this way, you can enjoy 24x7 shopping experience anywhere from around the globe.
With the help of credit cards, you can enjoy exciting discounts and schemes, which can be related to your entertainment, shopping, dining, etc. Usually, credit card companies have entered into an agreement with different leading brands and therefore, when you use your credit cards at these outlets, you will be able to get the lucrative discounts. Such credit cards also offer lucrative discounts to particular credit card holders. For instance, if you use the SBI credit card, you will be able to get benefits of fuel surcharge waiver, cash points on dining, usage on department stores, etc. Moreover, these cards are globally accepted and therefore, it is possible to use these cards anywhere from around the world. he credit cards can be used for withdrawing cash through various ATMs.
How to get the right credit card?
There are various credit cards options available in the market and it becomes imperative to select the right card which proves useful in meeting your all requirements. Therefore, if you also want to buy the credit card then you should give due consideration towards following 2 parameters-
Rate of interest- Various credit card companies charge different interest rate and therefore, it is required to do a proper shop and select that credit card which offers low interest rate.
Fees structure and other charges- It is necessary to delve into different fees structure before zeroing in on the particular card. There are various fees like annual fee, joining fee, late payment charges, etc., which are imposed on the credit card holder. It would be useful for you if you will check all related fees.
sbi credit card | axis bank credit card | citibank credit card
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