Category: Personal Finance

Disadvantages of Using a Credit Cards and The Ways to Deal with it

credit card disadvantages

Credit cards are one of the most popular ways to manage one’s finances. But having credit cards is not always prudent as they can turn out to be very tricky and costly. If someone is excited about all the perks and offers credit cards offer, he should also keep that in mind that failing to weigh the benefits accurately over the demerits can lead him to a distress situation. Disadvantages of using credit cards There […]

How to avoid Credit Card Interest?

avoid paying interest

Credit cards are modern-day money, also referred to as plastic money. They are designed to enable a person to borrow money instantly from his bank with some pre-arrangements. But they don’t come without a price. Users must bear charges for credit card usage, the most common of which is credit card interest. But with a little bit of knowledge and planning, one can avoid paying interest for his credit card usage. Benefits of having a […]

What happens if you don’t pay your credit card bill?

failure to pay credit card bills

Default on credit card dues leads to a drastic fall in all aspects of a person’s life. The financial burden will go up with rapid progression, the credit score will get hampered, and even social life can disrupt. It may seem okay to skip a payment or two on credit card dues, but it has a more prolonged impact on the financial situation. What happens if you don’t pay your credit card bill? The study […]

How Many Types of Credit Cards are there? Explanation with examples!

Types of Credit Cards

In this post-modern era of technology and cashless economy, different credit cards are offered by different issuer banks. Among the array of all sorts, choosing the rightmost card for oneself might be overwhelming. As such, before plucking the fittest card for the wallet, consumers should check out the most popular types of cards. 8 Types of Credit Cards – Explanation with Examples People from the different working-class call for the different requirements from a card. […]

Differences between debit cards and credit cards

DC vs CC

Cards are the financial instruments issued by financial institutes like banks or credit unions. Modern world citizens are widely acquainted with using bank cards like debit cards, credit cards, ATM cards, etc. To rip out the maximum benefits out of these cards, their concept, key attributes, differences of one from others, etc., should be clear to all. What’s a debit card? A debit card is a financial instrument issued by banks against the checking accounts […]

How do Credit Cards work? Definition, Types, Uses, Cost, and Benefits

everything about credit cards

What is a Credit Card? A credit card is a plastic card allowing the cardholder to use a virtually borrowed fund to purchase goods or services. The card is issued by a financial institution that contains necessary information of its holder. Usually the issuer allocates a credit limit to the credit card for its holder. Two parties of Credit Card – Lender and Borrower Financial Institutions extending financial backing are the Lender or issuer of […]