What are credit cards. A credit card is a card used for payments that are issued to a person to enable him or her pay for goods and services rendered by a service man or merchant on the basis that the holder will pay back the bank at a convenient later date with interests.
To keep track and monitor the debts, an account is created by the bank for the card holder, a monthly payment is not required as in many other credit payment cards.
Payments on differed dates is the best explanation for what a credit card program is. Cards where debts have to be paid on a monthly basis are called charge cards; these cards are very distinct from credit cards because there are no strict rules on when payments have to be made with credit cards.
An affiliation partnership contract is agreed upon between banks and business to produce cards; these cards are referred to as Co-branded credit cards. These contracts bid business on the agreement that they must accept credit cards for transactions. This is advertised at the business in one form or the other to inform the cardholders of the availability of payment options.
Before the credit card is issued, an account is created by the bank or the crediting company for the card holder to monitor the expenses and the debt owed after the issuing if the card.
At the end of each month, the card holder is sent a summary of all transactions made with the card, the total amount spent and other bank charges. The cardholder is then given time to check, in case of any error, it can be referred back to the bank.
Benefits. One of the most important benefits of having a credit card is the convenience it brings. In comparison with other payment cards; it allows easy borrowing of small short term loans in very little notice time. Credit card companies give little incentives like rebates, free warranties on products at no extra cost, and insurance on purchases items.
Discounts for fidelity and rebates are given to encourage credit card users and reward them for patronage. The fraudulent acts can be reduced with the encouragement of use of credit cards.
Withdrawal of money from ATM machines can also be said to be a benefit as not all card programs can do that. Amanda Curry is experienced writer on issues pertaining to credit card companies and is the go-to girl for any advices on co-branded credit cards.
To keep track and monitor the debts, an account is created by the bank for the card holder, a monthly payment is not required as in many other credit payment cards.
Payments on differed dates is the best explanation for what a credit card program is. Cards where debts have to be paid on a monthly basis are called charge cards; these cards are very distinct from credit cards because there are no strict rules on when payments have to be made with credit cards.
An affiliation partnership contract is agreed upon between banks and business to produce cards; these cards are referred to as Co-branded credit cards. These contracts bid business on the agreement that they must accept credit cards for transactions. This is advertised at the business in one form or the other to inform the cardholders of the availability of payment options.
Before the credit card is issued, an account is created by the bank or the crediting company for the card holder to monitor the expenses and the debt owed after the issuing if the card.
At the end of each month, the card holder is sent a summary of all transactions made with the card, the total amount spent and other bank charges. The cardholder is then given time to check, in case of any error, it can be referred back to the bank.
Benefits. One of the most important benefits of having a credit card is the convenience it brings. In comparison with other payment cards; it allows easy borrowing of small short term loans in very little notice time. Credit card companies give little incentives like rebates, free warranties on products at no extra cost, and insurance on purchases items.
Discounts for fidelity and rebates are given to encourage credit card users and reward them for patronage. The fraudulent acts can be reduced with the encouragement of use of credit cards.
Withdrawal of money from ATM machines can also be said to be a benefit as not all card programs can do that. Amanda Curry is experienced writer on issues pertaining to credit card companies and is the go-to girl for any advices on co-branded credit cards.
About the Author:
William Darren is a advertising professional; he deals mostly with the use of prepaid card programs and how co-branded credits cards can assist with daily transactions.
Keine Kommentare:
Kommentar veröffentlichen