Credit Card: what is credit card?। uses of credit card । how to use credit card ?
What Is a Credit Card? A credit card is a thin rectangular piece of plastic or metal that is provided by a financial institution or a bank with conditions set by it. Through this card, the cardholder can make online payments anywhere. When a payment is made through a card, the money to be paid is borrowed from the card issuer i.e. the bank and the cardholder deposits this money with the bank along with interest and prescribed charges at specified times. Banks, while issuing credit cards, fix limits on the amount of money to be borrowed i.e. the usage of the card, such as fifty thousand dollars in a month, etc. This fixed limit is called a " standard credit line ". Sometimes a credit card issuer may also offer its cardholders a separate cash line of credit (LOC) in addition to the standard credit line. Money is lent in the form of money and this money can be obtained through ATM. The issuer decides the borrowing limit of the cardholders on the basis of their credit score or C...