Know what is a credit card and what are its benefits?

Credit Card ( Credit Card ) or plastic money (Plastic Money) is given by a payment card bank card users is that they can give the money to the seller after use to buy any goods or services |
Know what is a credit card? (What Is Credit Card?)

You do not have to face the hassle of not having cash when you pay by credit card.

All banks give a certain limit (Card Credit Limit) to their users or card users in their card so that they can use it.

After the bill is generated every month, users have to pay it so that the fixed amount of their card is not reduced.

With this fixed amount, the card user knows by paying to the seller and can also get cash advance if needed.

The card user can use the card at any time but he has to pay the bill before the stipulated time.

Because in case of not doing so, the consumer may have to pay additional interest along with the bill.

How much limit will be available in the credit card, these banks decide only after verifying your monthly income or income, which may be different in all banks or cards.

How is payment done by credit cards? (Payment Via Credit Card):

Whenever you pay with your credit card to any vendor, you have to put your card in an Electronic Data Capture (EDC) machine, through which that machine checks your card data on the bank server.

After the verification of the information or card, you have to enter the PIN of your card in the machine so that it can also be decided that the card is yours or the card owner has given it to you.

Because the PIN of the card is confidential and it is not disclosed to any other person as per instructions.

On entering the PIN, your bank pays your specified amount to the seller, which later you have to pay the bank in the form of monthly bill.

Credit Card Benefits:

In credit cards, the bank gives you an additional time of 15 to 25 days for payment, which you get after the generation of your monthly bill.
In cards, you do not have to pay cash, so that you do not have to carry cash anywhere. Card payment is easier, safer and faster than cash payment.

Banks also give you Reward Points when you pay with credit cards, which you can later use at the time of paying your bills.

Many times sellers and banks offer us easy installments (EMI) as well as cash back when buying goods online.

In credit cards, banks give you a lot of concessions on hotels, petrol pumps, air travel, rail travel, purchase of electronic goods, and entertainment. Which benefit you cannot take on cash payment.

You can use credit cards in the same way anywhere in the country or abroad. While the currency of your country cannot be used outside in any other country.