What is the Credit card and the Advantages of Credit card?

 What is the Credit card and the Advantages of Credit card?

A credit card is a plastic card issued by a Financial company or Bank to cardholder an option to borrow funds and collect interest from cardholders depending on their uses(make a purchase or take cash) .you need to pay the minimum amount every month by the due date on the balance.

In credit card has 16 digits unique number, Expire date, chip, and CVV number issued by Financial company.

all credit cards made with Magnetic stripe signature and hologram.

Types Of Credit card

  1. Standard "Plain-Vanilla" Credit Cards
  2. Balance Transfer Credit Cards
  3. Rewards Credit Cards
  4. Student Credit Cards
  5. Charge Cards
  6. Secured Credit Cards
  7. Subprime Credit Cards
  8. Prepaid Cards
  9. Limited Purpose Cards
  10. Business Credit Cards

Advantages of Credit cards?

  1. Opportunity to Build Credit to make purchases like daily Grasaries, Gas, cloths other goods and services
  2. Earn Reward points to spending on money or purchase
  3. you will get a free credit score 
  4. No foreign transaction fees, you can use global
  5. Protection against credit card fraud and scammers
  6. to increased your purchase capability
  7. Not linked to your bank saving or checking accounts
  8. you can carry a balance
  9. you will get cashback offers on making a purchase on E-commerce
  10. you can redeem reward points as cash or Purchases
  11. Credit card is very useful while you are in travel
  12. Credit card used Emergency Expences.

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