Credit Card means different things to different people. For some it gives easy spending and splurging power and for others it is a very good emergency financial supply at the time of dire unexpected need, and for some others it is an integral tool in their day-to-day financial spending methods.
What exactly is a credit card
Credit Card is a Plastic en-coded Card, issued by all banks and offered to all class of people. The only criterion to obtain one is that he / she should be earning a minimum salary of Rs 4000/- PM. OK, now what does one do with this card. Actually it is – please note – as good as your own cash being spent, but let us say like issuing a cheque. The only difference is that you can make any purchase anywhere with this card, as good as instant cash paid for the purchase done. The Card Issuing bank provides a monthly statement of your spending through the card & you have to make all the payments on or before the due date.