Q1.Definition credit card
Ans.With a debit card, you can spend as much money as you have in your bank account, whereas a credit card is like a lending account.
Q2.
It is very helpful in emergencies. It is very useful in an emergency like admission in hospital. Credit card is the easiest option of money compared to the time it takes to withdraw more money from bank account or process loan. If you have spent more then you may have to pay the over limit fee on the credit card
Q3.
Great credit score If you spend money with a credit card and pay it on time, then you can create a better credit score. It helps you a lot in the long runterm and next time easily credit card take.
What are credit card terms and conditions?
Q2.Credit card terms and conditions
1. You have to pay the credit card bill on time. Usually you have to pay the bill within 21 days from the date of your credit card bill.
3 .Credit card interest rate is very high. After adding penalty etc. the interest rate reaches 40-45%.
4 .On your credit card, you can spend up to a credit card limit. This means that at one time your credit card cannot be owed more than the credit card limit.
5. Credit card limit depends on your card and your salary.
6 .Banks give you the option that instead of paying the entire credit card bill, you can also pay some minimum amount. Banks do not charge you any penalty for doing so. But this is not a good option. You do not get interest free credit period by doing this. And the rate of interest is very high in credit cards.
7 .On some cards you have to pay annual fee. But many times you can talk to the bank and forgive that fee
Q4.
What are the benefits of credit card?
You get easy credit. You may have to take some goods, but you do not have that much money in your bank account. In such a situation, you can spend using a credit card. You can pay the credit card bill when the salary arrives later.
Credit card can be very useful in any emergency. Suppose you need money for the treatment of a family but there is not enough money in your bank account.
If you keep paying at the right time, then you do not have to pay any interest on the loan. (Interest Free Credit Period) You can get 21 to 52 days of free credit. The duration depends on when you have used your credit card.
You also get a discount or cashback on many websites or stores. Many e-commerce websites (Amazon, Flipkart, PayTm,oyo, Zomato,etc) offer you a discount or cashback on using a credit card. Borrowed and discounted Icing for you.
You also get reward points for spending on credit cards. These reward points can also be used to buy something or to pay for credit card bills.
Disadvantages for credit card
1.annual fee
Maximum charges
Interests charges .
Gst charges
Late charges : basically this charge due tdate after pay 36% to48% charges.
Surcharge
charge: This charges petrol pump,irtc, etc
Foreign charges means international charges.
Overdraft charges this charge your credit card limit cross charges
Atm withdrawal charges .
Lowest charges.
Q5.How Many Types Of Credit Cards
1.lifestyle
Reward
Shopping
Travel and fuel
Banking partnership .
Business.
Q6.How to apply credit cards
Go to credit card official website
Select more
Apply now and select credit card to apply for a credit card
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