Scribd
Upload
40 views1 page

2.credit Cards: What Is A Credit Card? Particulars On Credit Card

A credit card is a plastic card that allows the cardholder to make purchases and obtain cash advances based on a pre-approved credit limit. Credit cards offer convenience for payments and cash withdrawals when traveling, consumer protections if the card is lost or stolen, and help build credit history which can lead to better credit card deals and lower interest rates over time. However, credit cards also come with disadvantages like interest charges if balances are carried from month to month, various fees, and potentially enabling overspending beyond one's means.

Uploaded by

Divya Patil
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
40 views1 page

2.credit Cards: What Is A Credit Card? Particulars On Credit Card

A credit card is a plastic card that allows the cardholder to make purchases and obtain cash advances based on a pre-approved credit limit. Credit cards offer convenience for payments and cash withdrawals when traveling, consumer protections if the card is lost or stolen, and help build credit history which can lead to better credit card deals and lower interest rates over time. However, credit cards also come with disadvantages like interest charges if balances are carried from month to month, various fees, and potentially enabling overspending beyond one's means.

Uploaded by

Divya Patil
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 1

2.

CREDIT CARDS
What is a Credit card? Particulars on Credit Card
A Credit Card is a plastic card bearing an account number assigned to
a cardholder with a credit limit that can be used to purchased goods
and services and to obtain cash disbursement on credit.

Advantages:
• Convenience - Fast payments, Easy access, Automatic currency
conversion when travelling
• Consumer Protection when card is stolen
• Credit score - Better Credit card deals, Lower interest rates,
Cheaper auto insurance
• Record keeping - When you make most of your purchases with a
credit card, you’ve got an automatic record of your spending

Disadvantages:
• Interest Payments - The most obvious problem with credit cards
is that if you carry a balance, you have to pay interest.
• Other Fees - Annual fees, Balance transfer fees, Foreign
transaction fees, Over-Limit fees etc.
• Overspending - you automatically spend more than you would
handing over a wad of cash.

You might also like