Why I need a credit card?

Hi,

A credit card from VISA, MasterCard, or any other network allows you to pay for purchases or services by borrowing from the credit card company. You then repay by making monthly payments towards the amount borrowed. That is, you do not have to repay the whole borrowed amount in full at one go.

Then there are charge cards, such as the American Express card, that require full payment of the borrowed amount each month.

Either way, the credit card is a very convenient alternative to paying by cash.

Essentially a credit card allows you to:

    * Purchase products or services whenever and wherever you want, without ready cash and paying for them at a later date.
    * Have the option of paying only a part of the total expenses. The balance amount can be carried forward, with an interest charged.
    * Withdraw cash whenever, wherever you are, through ATMs and other withdrawal centers.
    * Enjoy a revolving credit limit without any charges for a limited period (mostly 20 to 50 days)

Thanks & Share your ideas!