What is a Credit Card?
Credit Cards are also known as plastic money. It is one of the most convenient ways of making payments while shopping. The major advantage of plastic money/credit card is that you don't have to carry cash and you can get rewards points on each purchase made. Only banks are permitted to issue credit cards.
Benefits of Credit Card
Credit cards are at their most convenient when it comes to travel. Credit cards are also essential while shopping online. A person can shop online is he has a credit card. Credit card also allows 24-hour Instant Cash Access from an ATM.
Caution while using a Credit Card
It is always advisable to pay your credit card dues on time in order to maintain a good credit score in CIBIL. Whenever anyone applies for any kind of loans in future, a bad history or credit score can be a cause for rejection. If due to poor credit history one is not able to get a credit card, then one can apply for a secured credit card. These are issued against their term deposit in the bank.