• Credit Card – A True Rescuer

    Are you finding it difficult to manage some unexpected expenses this month? Or maybe, you want to purchase something expensive but running short of money?

  • What Is a Credit Card?

    Credit card is basically a card which is issued by the bank to the account holder to make payments for any purchase...

Want to know more about us?
Our Team
We are one of the leading consultancy group in the market that deals with credit cards... View More
Customer Support
If you need more details and information, you can reach us... View More

Credit Card – A True Rescuer!!

Are you finding it difficult to manage some unexpected expenses this month? Or maybe, you want to purchase something expensive but running short of money? Or maybe, you want to take a sudden unplanned trip but flight charges are more than your budget? Well, if you are going through any of the above mentioned condition or any other situation in which you desperately need some extra help to manage your finance in the current month, then credit card is the answer to all your financial crisis problems.

What Is a Credit Card?

Credit card is basically a card which is issued by the bank to the account holder to make payments for any purchase, in case he has exhausted his account or maybe wants to save some cash. It is a kind of debt that a customer seeks from the bank where he holds an account. The bank provides its customer with the advance cash which the user can avail using the credit card. In return, the bank charges the debt plus extra interest on the debt.But a certain time span is given to the account holder to return this amount.

Benefits of Holding a Credit Card

Credit card is undoubtedly a savior for the people. It helps you to spend more than you earn. But you need to learn the art of managing your expenditure so that you don’t end up in too much debt and find it difficult to pay back. Some of the benefits of using a credit card are:

  • It helps you to bear your medical expenses if you have a sudden health crisis. If a person meets an accident on the way and is not carrying cash, then a credit card comes to his rescue and without any hurdle he can get his treatment done.
  • If the card holder makes a mistake in carrying out some transaction, then nothing to worry about. He just needs to give a call to the bank and the transaction will be reverted in next few hours.
  • Credit card can be used to do shopping. In case you like something expensive but it exceeds your budget, then you can make the payment using your card.
  • Companies such as Visa, MasterCard and American Express takes care of the settlement of the payment between the credit card holder’s bank and the bank of the seller.
  • A credit card can save a lot of time of the user as there is no need to look for an ATM to fetch money.
  • One of the most important benefit is that a person can keep a complete track of his expenses online and this can indeed help him to analyze his own expenditures and spend accordingly so that he can do some saving in the next month.
  • Nowadays lot of credit card companies offer lucrative incentives to its customers based on various purchases that are made using the card.
  • A person can make sudden plans of travelling, purchasing or partying without worrying about the expenses.
  • In case of any huge amount paid for a purchase, the card holder can always pay back the debt in instalments i.e. EMI rather than paying the whole amount altogether the next month and exhausting the account. This helps to avoid financial load at a time and thus makes it convenient to payback without any hurdle.

Right Way of Utilizing Credit Card

With so many benefits, there can also be chances of losing a complete balance of your financial management and hence you can become bankrupt if the card is carelessly used. Some best practices are as follows:

  • One should avoid to spend more than what he can be paid back.
  • It is important to keep a track ofthe credit limit so that once it exceeds even half of its available limit, one can avoid making unnecessary expenditures.
  • It is always better if a credit card can be used only in case of emergencies.
  • It is preferably better to pay back the credit card bill at the earliest to avoid unnecessary interests charged by the bank.
  • It is safer not to disclose the PIN code to anyone as it can be risky. Knowing the PIN code, if anyone steals the card, it can be used for any transaction and bank will not be able to help and hence it will create financial loss to the user.

As long as you have merchant account providers, credit and debit cards can be used to pay any amount. It is these providers that help in accepting card payments.

Follow us on...