What is in a credit card 2023 ? – In present time everybody knows about credit card it is an essential in our lives , in this period of time most of the people uses it fulfill their needs such people who do jobs and are dependent on their salary needs credit card`s the most through which they pay their monthly bills and at the last of the month they pay credit card bill and now seeing the situation every bank is providing credit card as par as the ability of the consumer such as ( SBI, BOB , AXIS , ICICI, HDFC , etc ) provides credit cards .
Related article – What are the features and benefits of Credit Card ?
As we all know that many types of cards exists such as debit card and credit card . Here we are talking about credit card so , Credit card are also of two types – consumer credit card and business most of the cards are made of plastic but some are made of metal ( stainless steel , gold , palladium , titanium ) and few gemstone-encrusted metal cards
How to use credit card and where to use it 2023.
it can be used in many ways.
- It allows you to buy goods and services without paying them with cash.
- we can swap it on the swaping machine while buying goods .
- it can be used in purchasing goods online / ofline .
- And etc .
How to use a credit card ?
when we get a new credit card we have to do the registration through the application of the company of the card for instance – if the card is of SBI company so it have its own application so we have to register in that application to let the card start / we can also register it online on the website of that company with the help of user password by logging in .
*where to use credit card IN 2023?
Credit card is used at many places in many ways.
credit card is used with the help of swapping machine such as on petrol pumps , shops and many other ways . credit card is also used by applications such as ( phone pay ,paytm , google pay and so on ).credit card can be used online for booking trains tickets , concerts tickets , Aeroplan’s tickets bus tickets , cabs , movie tickets and so on .we also use credit card by scanning QR codes .
Benefits of credit card IN 2023.
biggest benefit of the credit card is that whenever you do any transaction through it then you don’t have to pay with cash but your credit card limit will decrease as same as that amount and you will also get a grace period and for this grace period you don’t have to pay any extra charges and interest the interval of the time period of the grace period could be available for 19 to 49 days .if we do any transection with the help of the credit card we will always get discount on every transection which we get back in the form of reward points . One of the benefits of transecting from credit card is that whenever we make a purchase through credit card from any online websites such as ( amazon , flipkart , smartshopper , etc ) we’ll always get reward points and discount which is when redeemed is converted into cash .
Disadvantages of credit card 2023.
In present time, there is not any disadvantage of credit card, but there can be your loss by your own mistakes if you don’t pay your credit card bill on time so there will be your loss. first of all our due amount will be charged by interest and late fees .The biggest disadvantage of the credit card is that if the bill of the credit card is not submitted on time so it will certainly affect your credit score, the credit score decreases very fastly because of which you don’t get lone from any financial company or any bank due to your low civil score and you`ll be burdened under loan you have to pay a lot of interest . Interest is charged every month on your credit card bill by not paying bill it increases.
credit card is a financial support that is given to you by the bank in which the consumer is given a preset limit by the bank and also the consumer is given cashless service .
Auto debit means to link your credit card to your account . So, that the bill of your credit card could be submitted on time so that you are not charged any penalty ,extra charges or late fees so that you don’t face any problem . Auto debit is a process in which your credit card is linked to your account and automatically the credit card bill’s amount is charged through your account on the due date by which you are saved from the extra charges such as late fees and interest which is charged when your credit card’s bill is not submitted on time by using auto debit you can be saved from such problems.
The payment of credit card bill 2023.
Every credit card company have it’s own application through which the bill of the credit card can be paid. The bill of the card can also be paid by the bank / it can also be paid by many private applications such as ( phonepay, googlepay, paytm etc).
CPP ( card protection plan ).
This is given to the cardholder to protect the card. It is also charged yearly which is depended on the fraud of the card thus , this charge can also be given in installments . CPP ( card protection plan ) are of many types .
This article material is solely for informational purposes. The contents are general in nature and are for informational purposes only. It is not a substitute for advice specific to your own circumstances. Information is subject to updation, completion, revision, verification and revision and may change materially. This information is not intended for distribution to or use by any person in any jurisdiction, shall not be responsible for any direct /indirect loss or liability incurred by the reader for taking any financial decision based on the information. Please consult your financial advisor before taking any financial decision.