Friends, in today's post, we will know that What is a credit card?-Full Guide You must have heard about it at some point or the other! Apart from this, you must have often heard about some other card such as debit card or ATM card etc. And you must have been some confusion that what is the difference between all these cards? So after reading this post today, your confusion will be cleared.
So, friends, a credit card is also a card made of plastic just like an ATM or debit card! With the help of this card, we can do things like online shopping or online payment. Although we can do this work with debit cards also but getting a credit card is not as easy as debit cards.
To get a credit card, you have to follow many rules of the bank. So in today's article, we are going to give you complete information related to credit cards.
What is a credit card?-Full Guide
A credit card is also a plastic card like a debit card, through which you can buy the same even if you do not have cash. In a way, it is like a loan given to you by the bank, you can use it for payment or shopping!
But the credit card has a limit that is determined by the bank looking at your income and business. The bank gives you 60 days to pay for all the shopping you pay by credit card!
If you make the payment to the bank within the stipulated time, then the bank charges interest from you to 3% to 3.5%. But if you are not able to pay the bank on time, then you have to pay more interest than this.
Credit card terms and conditions
- Before giving a credit card, the bank looks at the appeal business and your income.
- Before giving the card, the bank also checks your old details to see if you have taken any loan from somewhere before. And if you have taken it, have you paid the loan on time or not?
- The bank also sees that you have taken something on instalments. So have you paid for it on time or not? And if your payment has not been completed yet, then the bank reduces your credit card limit.
- If you pay income tax, then getting a credit card becomes even easier for you!
- These are some of the terms and conditions of all the banks that you have to follow. You can also contact your bank for more details.
Benefits of Credit Card
- If you have zero balance in your bank account! Even then you can make payments or shop with the help of a credit card!
- You can use it for online shopping on any e-commerce website.
- Nowadays from a small shop to a big deal! Everywhere you get the facility to pay by credit card.
- If you have taken anything in your instalments! So you can also pay his EMI with the help of a credit card.
- You can also use a credit card to send or ask for money from anyone.
- Disadvantages of Credit Card
- If you are not able to pay the bank on time, then you have to pay additional interest.
- Whenever you take a credit card, read the terms and conditions of the bank once. Otherwise, you may lose later!
- Never spend more than you need or else you may have to repent later! So spend with a credit card according to your capacity.
So, friends, this was the credit card related information! Hope you have understood that Credit Card Kya Hota Hai? So friends, if you liked this information, then share it with your friends too! And if you have any questions related to this article, then you can ask us in the comment box given below this post.