There are a lot of hidden costs in the credit card and it depends on the provider of the credit card. It would be a lot better for you to understand the hidden costs of the credit card before you go for it.
Saturday, 19 March 2011
Are there any Hidden Costs in Credit Card
Hidden Costs in Credit Card:-
There are a lot of hidden costs in the credit card and it depends on the provider of the credit card. It would be a lot better for you to understand the hidden costs of the credit card before you go for it.
There are a lot of hidden costs in the credit card and it depends on the provider of the credit card. It would be a lot better for you to understand the hidden costs of the credit card before you go for it.
What is a Credit Card
Credit Card:-
Since the Human has started evolving with the system of Payments and transactions, whole new systems have evolved which totally revolutionized the Procedures over time. One of the major achievements is the credit card.
Before applying for a credit card let me give you some of the insight about credit card so it may help you to decide whether you need it or not.
It is a small plastic card which is issued to the users as a system of transactions. It allows the user to buy goods and services on the card providers promise to pay for every service and good. The card issuer provides the a revolving account and grants a line of credit to the user for which he/she can use it to borrow money to buy anything from a merchant.
What is Debt
Debt:-
Any thing which you owe is debit, mostly it refers to the assets which you are owed by you, but it may also cover the moral obligations and other activities which dont involve money at all. Debt also means to have a future purchasing power at present before a summation has been earned.Debt also play an important role in Corporate finance Strategy of Companies.
When a creditor agree to lend some Money to the debtor than debt is created. It is usually expected with a repayment just as a interest charged by the creditor to debtor.
Any thing which you owe is debit, mostly it refers to the assets which you are owed by you, but it may also cover the moral obligations and other activities which dont involve money at all. Debt also means to have a future purchasing power at present before a summation has been earned.Debt also play an important role in Corporate finance Strategy of Companies.
When a creditor agree to lend some Money to the debtor than debt is created. It is usually expected with a repayment just as a interest charged by the creditor to debtor.
What is Credit?
Credit:-
Credit is the trust of one entity on the other in order to acquire some sources from each other. One party gets the required resouces but the other party does not charge at the same time or immediately to the first party( thereby generates a debt), but at that time arranges either to repay or return those same resources or of same worth at some other date. The resources provided could be in a financial form of loans, or it may contain goods or services(e.g Consumer credit). Credit is produced and extended by an entity known as creditor or lender to a debtor or we may say borrower.
Credit is the trust of one entity on the other in order to acquire some sources from each other. One party gets the required resouces but the other party does not charge at the same time or immediately to the first party( thereby generates a debt), but at that time arranges either to repay or return those same resources or of same worth at some other date. The resources provided could be in a financial form of loans, or it may contain goods or services(e.g Consumer credit). Credit is produced and extended by an entity known as creditor or lender to a debtor or we may say borrower.
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