Credit
Cards the next generation best money payment system is rapidly
growing day by day. This plastic card values the global
market and had made online transactions reliable and fast.
Credit cards within seconds enables you to pay any where
in the world.
Credit
Card :
A credit
card can provide convenience and allow you to make payments
in a sophisticated manner. There are different kinds depending
on the nature of card and interest charged on it.
The types are store card, debit card, gold credit &
platinum cards, company credit card, charge cards and smart
card. Smart cards are the next generation of plastic payment.
The information is held on a small micro chip embedded,
rather than on a magnetic strip. A micro chip can hold eighty
times more information than a magnetic strip, and this additional
capacity can provide new functionality. For example, one
card could become multifunctional and serve best as a credit
card, debit card and "electronic wallet".
Interest
Rate :
Interest
rate on cards are different based upon their type and package.
Companies offer different interest rates like store cards
companies on average charge a higher rate of interest than
regular credit cards and should be avoided unless you are
able to pay off the outstanding balance with interest each
month. A recent NOP survey revealed that 75% of store card
holders had no idea of the interest rate being
charged and what rate on their store card, despite only
one in three repaying their balance in full each month.
Before going for a best credit card you should deeply study
the rate offered. The low rate is the overall factor
in choosing.
Charge
cards are only offered by banks to their existing customers.
Some have minimum low interest rate. They usually offer
additional incentives such as insurance, air miles and/or
reward points. It offers unlimited free credit and lowest
interest rate although the outstanding balance must be paid
in full each month.
Credit