About credit cards is known, if not to everyone, then to many. Any of them is a plastic banking product that works with a certain payment system (Visa, MasterCard, etc.), divided according to its settlement purpose and the type of use of funds on it, as well as belonging to a particular country.
This article is about credit cards. With their help, calculations are made related to payment, purchases or orders, but with subsequent debt repayment. They are issued already limited, that is, with a fixed amount of money, according to your agreement.
If a debit card implies spending only the money that is on the account (how much you put in, you will take as much), then the credit loan must be returned by the due date, no later than.
What are the parameters for choosing a credit card
- At the interest rate (calculated only on the actually spent finances, and not on the entire loan);
- By grace - an interest-free period of time before maturity;
- According to the commission provided for the service;
- For the bonuses provided (cashback);
- By methods of replenishment;
What are credit cards for?
By issuing a card, you will ensure yourself the opportunity to timely purchase support when you are in dire need of it. The allowed grace period will be beneficial if you know in advance that the purchased item can subsequently rise in price (for example, digital equipment, household items, building materials, cars). It will be possible to renew the use automatically, without re-registration. A very significant plus in the return of cash, when buying something, you get cashback.
We have already written about the requirements of financial institutions for borrowers on the pages of our website. They are individual, and in order not to confuse you, it will be more convenient if you familiarize yourself with all the important information by directly going to the service of a pre-selected company.
What else do you need to know about cards?
We introduce you to one of the financing instruments, which is an instant way of obtaining microloans for urgent purposes in MFIs. We remind you of vigilance and accuracy in handling. Check if the credit card participates in loyalty and charity programs, how bonus accruals work. We wish you success!