What is Credit Card?
Credit Card is a card which provides credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit; it helps to Credit Card holders to pay a merchant for goods and services by using Credit Card and requiring that you pay back the loan amount in the future.
Benefits of Credit Card
- Buy on Credit
- Most accepted Payment Method
- Unlimited rewards
- Discounts and Cash backs
- Improve your Credit Score
What is Credit Card Limit?
In simple words Credit Card Limit is the maximum which a person can spend on his or her Credit Card
It varies accordingly credibility of Credit Card users.
Benefits of Credit Card
One of the main benefits of Credit Card is that you will not have to carry cash with you at all time for Shopping, for having food in Restaurant, and making Purchases of any item.
Credit Cards record all of your transactions and analysis you’re spending on multiple Purchases. You can withdraw cash by your Credit Card whenever it requires and use where credit card not supported.
Is Credit Card Good or Bad?
Credit Cards are neither good nor bad; in simple words Credit Cards are financial tools that must be used responsibly. It can help you if you use wisely or it also has ability to hurts you if you do not use responsibly.
You are Eligible for good Credit Card, If
- Age – Your age should be 18 above to apply a Credit Card
- Income – Each bank has specified minimum income set by themselves for issuing a credit card
- Credit History – A good Credit History is proof that you can use your credit card well.
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