CREDIT CARDS
Credit cards are financial instruments issued by banks or financial institutions that allow cardholders to borrow funds to pay for goods and services.
OUR PARTNERS
Features :
Credit Limit:
The maximum amount that can be borrowed.
Interest Rate (APR):
The cost of borrowing, expressed as an annual percentage rate.
Grace Period:
The time during which no interest is charged if the balance is paid in full.
Minimum Payment:
The smallest amount that must be paid each month.
Fees:
Including annual fees, late payment fees, and foreign transaction fees.
How Credit Cards Work
Making Purchases: Cardholders use the card to pay for goods and services.
Billing Cycle: Typically lasts about a month; at the end, a statement is issued.
Payments: Cardholders can pay the full balance, the minimum payment, or any amount in between.
Interest Charges: Applied to any balance not paid in full by the due date.
Benefits
Convenience: Easy to use for purchases and online transactions.
Rewards and Perks: Cashback, travel points, and other incentives.
Building Credit: Responsible use can improve credit scores.
Protection: Fraud protection and purchase insurance.
Emergency Funds: Useful for unexpected expenses.