Credit card is a means of payment to the merchant for goods or services provided, in the form of credit or a promise to pay the amount later, along with a minimal charge.Credit cards are provided by banks or financial institutions, and it allows the user to make purchases and pay for the services.
1. Credit card for shopping- Credit cards have redefined the shopping experience if you posses a card. The shopping has become easier, where one can make big purchases for their needs using a credit card without disturbing their monthly budget.
2. Alternative to cash: One of the biggest advantage of having a Credit card is that it eliminates the need for carrying cash around for shopping.
3. ATM withdrawals: Similar to a debit card, the credit card too allows its customers to withdraw cash in case of need.
4. Accepted across the world: Credit cards are a regularly and often accepted mode of payment throughout the world. While travelling overseas, a credit card eases any payments in foreign countries.
The eligibility for a credit card differs with various providers. However, the basic criteria are as follows:
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