Credit Card Benefits

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A credit card is a card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Interest usually begins one month after a purchase is made, and borrowing limits are pre-set according to the individual 's credit rating. (investopedia, 2016) Credit card usually charges interest rates and it is a best way for short term financing. A typical credit card is consist of issuing bank logo, EMV chip which is usually on smart card which makes card more safe and secure way of payment, Hologram, card number, card holder name and expiration date. Many credit card has a contactless chip which usually known as Tap. Which makes payments quickly and easily. Almost every store allows payments …show more content…
Secure credit card means that the card is secured by some collateral and your credit limit is based on the value of that collateral. Getting a secured credit card is really easy because is really safe for lender to provide credit. After getting a secured credit used credit card regularly on daily bases to purchase everything for that card and make full payment, which make a good credit history, and it will make you feel trustworthy. After using it frequently apply for a retail card. Retail card is card from the retailer such as wall mart, Costco, and many more. It is easy to get a retail card compare to getting card from bank. After certain period of time when you have built some credit apply for an unsecured credit card. Always makes sure to make timely payments, however, if u still not getting an unsecured credit card than finds a co-signer. If your application is denied than you can ask the creditor to provide additional information or arrange alternate credit terms or apply somewhere else or do the things to improve your creditworthiness. Review your credit history twice a year and if you find your credit history contains errors, take steps to correct the errors. If you believe that the creditor has discriminated against you than notify the federal enforcement agency. Government has passed fair credit billing act on 1974 to help credit card costumers. The act gives borrower right to take actions against statement for mistakes like charges for unauthorized purchases, failing to credit a payment,

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