Credit Card Financing
Provides Information on Credit Card financing and their benefits and pitfalls.
What is a Credit Card
A credit card is a plastic bank card with a magnified strip. Like all bankcards it enables consumers to make purchases and withdraw money up to a limit set by the providing financial institution. Unlike debit bankcards this provides the convenience for the consumer to purchase products immediately and pay for the cost of the goods later.
Credit Card Repayments
Most credit cards can involve no initial interest, but the full price of the purchase or withdrawal must be paid for within the specified period which could be from 30 to 90 days depending on your institution. If it is not paid by the specified date, it may require interest payments. In conjunction with this purchase repayments there is usually an annual fee charged on most credit card accounts for their convenience.
Who supplys credit cards
Financial institutions provide their own specific credit cards usually in partnership with major providers such as VISA and MasterCard as they are globally recognized worldwide.