A credit card is plastic money issued by financial institutions like banks, which allow you to buy Now and pay Later. Even though the uncontrolled use of a credit card can land you in a loan trap, using it wisely has lot of benefits.
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Credit card companies and banks allow you to purchase a variety of items with your credit card via EMIs. But, most of the issuers do not give you this facility to make EMI payments for gold purchases.
Credit card companies also provide you cash backs, if you use your credit card to pay monthly bills or to purchase certain items.
Paying using credit cards are just like loans. Repayment of credit card dues have the same effect as repayment of loans. If you pay your credit card bills on time, your credit score will improve gradually. This can help you avail loans easily in the future.
On other hand, if you do not pay your credit card bills on time, your credit score will do down. Never default on credit cards.
Loan against credit cards are just like personal loans, but don’t require any documentation. This loan is offered to those with decent bill payment history and a good credit score. Even though the personal loan is the quickest option for availing loans, it requires time to process. Loan against credit card will be disbursed instantly. If you are looking for quick money, you can go for a loan against credit cards. Avail loan against credit cards, with interest on par or slightly higher than personal loans. Be Wise, Get Rich.
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