Credit Card an Ease Loan for Your Requirement

Credit card provides you short term fund/loan for meeting your immediate requirement. Credit card is also known as world of plastic card which provides you an alternative method to pay cash when making purchase or receive any service. A credit card can be an asset for your business or lifestyle, but if you not handle them carefully they will put you in debt trap.

Credit card is simply a plastic card which enables you pay for transaction or service received. One of the main advantages of credit card is bank or finance companies charge no interest if you make prompt payment. Credit card enables you to meet your personal expenses such as shopping, trip or vacation, world tour, buying home appliance, fund for wedding or for other function, fund for emergency etc.

Main disadvantage of credit card is you become a liability for debts if you spend more than affordable by you. You need to spend only for those which you can make a prompt payment. If you use credit card for unnecessary shopping and spending, you will end to paying more interest for your debt every month.

While choosing credit card you need to choose bank or finance company which charge less interest for your credit and no annual fees or lowest fee for your credit card. Before signing for credit card you need to read terms and condition. Make transaction or spend amount which you can afford to repay. Make good research and contact more banks to know the best offer for your credit card. Never use more credit card two is more than enough for individual use.

Credit card can be best used for paying online transactions, pay your utility bills and your monthly telephone and mobile bills. Credit card enables you travel anywhere without taking risk of handling cash. For example, if you are planning to shop for furniture or home appliance around Rs 50,000/- you need not required to carry whole amount. When shopping you can either use credit card or make partly cash payment and remaining by credit card.

One of the myths in using credit card is users think card will make them liability for huge debts. If you have limited transaction in a month and the bill at the end of month is affordable by you, you can enjoy your shopping, family outing, friends or relatives wedding and even fund for emergency requirement. Learn to budget your monthly expense and manage your credit card efficiently.