Tuesday, December 8, 2009

How you can use credit card?

As we know all over the world the usage of credit card is very common.here we discuss about credit card.how we can use a credit card in our roution life. A credit card is part of a system of payments named after the small plastic card issued to users of the system.

It is a card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

A credit card is different from a charge card, where a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers to ‘revolve’ their balance, at the cost of having interest charged. Most credit cards are issued by local banks or credit unions, and are the same shape and size.

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