Credit Cards

Credit cards are the financial instruments that bring in a lot of convenience in payments for various products and services. They can be utilized with great ease for both online and offline payments. These days, credit cards bring in a lot of added advantages in terms of offers, rewards, and other associated benefits. Newer cards with lots of features and branding are also launched frequently. 

The convenience brought about by credit cards is hard to ignore. Recent demonetization and booming e-commerce marketplace have increased the penetration of credit cards in the country, especially among the youth.  It is no more considered a privilege of the elite to own credit cards.  

A good credit score is a great asset to have these days. It comes in handy in all those situations when you need credit to buy anything that cannot be paid for immediately, like a home, vehicle or loans to tide over emergencies/unplanned circumstances or even for availing a credit card.  

When your mobile phone is lost, does not support some of the latest applications, or no longer functions, you would certainly look for ways to get the latest mobile with the much-heralded sophisticated features. During such instances, it is quite hard to gather enough money to purchase the mobile phone that you set your mind upon, especially when your savings are meagre.  

Skimming is the process by which information on the credit card is stolen during an otherwise legitimate transaction like swiping at the fuel stations, restaurants, etc. These are done by using a small device called the Skimmer. The data skimming devices could be attached to the Electronic Data Capture (EDC) machines or could even be carried in the hands of waiters or store employees. 

The popularity and ease of use of credit cards have risen many folds. Not only does a credit card help in payments and offer short-term credit, but it is also a good way to earn some offers, rewards, and other perks. These rewards/benefits come in various forms. While some cards may award you for spending online, others may do so for spending on hotels, dining, shopping, etc. 

The convenience of credit cards needs no repeated mentioning, but the dangers of credit card debt do require some attention, as it can act as a major reason for your financial ruin. Credit card debt is the most expensive debt that one can owe. At exorbitant rates of 30-40%, credit card debt is totally not worth it. 

We have as many varieties of credit cards as our needs and wants. One that rewards you for traveling, one for fueling up your vehicle, one for online shopping, one for air tickets, one for grocery shopping offline, and so on and so forth. It seems nice to open a wallet full of credit cards that make you feel good.  

Credit cards are one of the most convenient instruments for payment. Their utility goes beyond the convenience, in the sense that credit cards also help in numerous other ways, such as bringing in offers on various categories of spends like entertainment, transport, dining, etc. As useful and convenient the credit cards are, they turn into financial destructors when outstanding bills are not paid on time.  

Using a credit card is akin to using a double-edged sword. While it provides numerous benefits in the form of convenience, short-term access to credit, reward points and offers; at the same time, improper use of a credit card can land you in deep financial trouble. Credit card debt carries the highest rate of interest to the tune of 30-40% per annum.  

Credit Cards are being used more than ever for both online and offline purchases. It is convenient- there’s no two ways about it. However, many times there arise certain situations where an error is made while paying through a card.  Sometimes we assume that once we pay with the card, the payment is done, and nothing further can be done about it.

Have you given a thought to why some of us end up getting our credit cards on the first time we apply, but certain applications are turned down? Have you wondered what the process followed while issuing a credit card is? 

If you have been a card (credit or debit) user for some years, you must remember how earlier cards needed to be swiped to carry out a physical transaction, whereas now they need to be dipped into the Point of Sale machine.  What do you think is the difference between the two?  

The convenience of shopping/ transacting with plastic money is undeniable.  However, there are pitfalls involved in using a credit or a debit card. With a credit card, there is a danger of overspending and getting into the spiral of revolving credit and paying high-interest charges on unpaid amounts.

The power of credit cards cannot be undermined. They not only bring about convenience but also help you tide over shorts periods of financial crunches. But if not used in the right manner, these cards can turn into objects of financial destruction. High-interest costs and revolving debt can prove very costly for anyone.   

We have written many times about how useful a credit card is. Recent demonetization and booming e-commerce transactions have increased the usage of plastic money. Improper use of a credit card can often land you in financial troubles. We bring you, pointers that will help you make the best use of your credit cards.  

There are hundreds of credit cards available in the market each catering to different needs of individuals. This definitely confuses credit card aspirants on what could be the best card for anyone. We at Credit Mantri have put out this simple guide which you can use to select the best credit card to suit your needs.

While the utility of credit cards has been proven time and again, it is very easy for someone to use a credit card recklessly and land up in unsavory conditions. Credit card usage can become more expensive than you think when you continuously pay the minimum due amount or default on the bills. Eventually, it could carry the highest rate of interest when compared to other credit instruments.   

Credit cards are wonderful financial instruments that are very helpful not only while making transactions for payments but also come across as effective tools for short-term credit. However, if not used properly, credit cards turn into the most expensive financial tool to possess.  

Credit cards are so convenient for payments for anyone. While individuals look for points and other such benefits from owning a credit card, while the requirements of a business card are different.  A business establishment may have frequent travel and entertaining requirements. Credit cards may also be given to company employees and be paid by the business. The uses may be numerous, but travel and stay are one of the major uses of a credit card for businesses. 

Cash crunch is a problem that you can come across at any given point in time. Most of the times, such scarcity of the required amount of money makes people unable to achieve specific targets in the form of buying a house or a car, pursuing higher education, making some purchases or meeting some immediate financial requirements.