what are credit cards?How they are beneficial for us?

Answer 1

credit card
A plastic card bearing an account number assigned to a cardholder with a credit limit that can be used to purchase goods and services and to obtain cash disbursements on credit, for which a cardholder is subsequently billed by an issuer for repayment of the credit extended at once or on an installment basis.

Almost every household owns at least one credit card. And it’s little wonder why: credit cards are a powerful financial tool with great benefits. Whether you want to apply for a credit card for the first time or add another card to your collection, it is essential to do some homework. The following factors will help you prepare to apply for a credit card.

Understand the Benefits

One of the greatest benefits credit cards offer is convenience. If you need money quickly, a credit card allows you access to more funds than the bills you carry in your wallet. When your car breaks down or unexpected health costs come up, you’ll be prepared.

A credit card can help you budget expenses. Your monthly credit card statement will itemize the different purchases you made. A quick glance at the statement will show how your money has been spent.

When you apply for a credit card, you have a chance to improve your credit score. After you receive the card and start using it, you leave a trail. This credit history shows your spending habits and ability to pay back your debts. Having a good credit score can help you secure a loan in the future.

Another benefit when you apply for a credit card is that it offers theft protection. If you lose cash, there are very few ways to recover the money. However, if your credit card is lost or stolen, you can report it. Your credit card company will investigate the fraud and issue you a new card.
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It contains credit card for all types of credit.

Answer 2

A card indicating the holder has been granted a line of credit. It enables the holder to make purchases or withdraw cash up to a prearranged ceiling. The credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit. Interest is charged based on the terms of the credit card agreement and the holder is sometimes charged an annual fee.
Nowadays more and more people use accruing credit card debt as a general finance practice. First of all, many companies have relaxed the requirements for credit cards and overwhelmed potential clients with advertisements, so that these apply for those cards. Beyond it, credit cards are an exceedingly comfortable mode to pay for purchases. Nowadays credit cards are accepted by most retailers and service providers as usual means of the payment. If you would like to order any items or services on the Internet, besides, credit cards are a safer way of buying. It doesn't surprise, that with the simplicity and comfort which these little pieces of plastic bring, so many families are going in credit card debt because they live beyond their earnings.
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Answer 3

Credit cards are cards issued by banks and lenders to offer people a line of credit with that particular bank or lender.

Essentially, with every purchase on a credit card, you are effectively "borrowing" money from a creditor or lender that you will have to pay back along with a (usually) high interest fee. So really, you're paying them to borrow money.

They aren't really very beneficial in any other way than to create debt for you and profit for the lender. I mean, you build credit with them... but there are far less dangerous/risky ways to do so.

Remember what Shakespeare said: "Neither a borrower nor a lender be."

Answer 4

Here's a great article about the benefits of using credit cards:

http://www.wowcreditcards.com/center/card-benefits.htm

Hope this helps!

Answer 5

credit cards will help you get yourself in dept...nothing beneficial

Answer 6

credit cards are a method to make banks rich!

and keep you in debt up to your eyeballs!