CREDIT CARDS IN INDIA-GROWTH OF PERSONAL FINANCE

Dr.V.Masulamani

CREDIT CARDS IN INDIA-GROWTH OF PERSONAL FINANCE

Authors: Dr.V.Masulamani

Unique Paper ID: 165108
Volume: 11
Issue: 1
PageNo: 360-364

Keywords: Credit Card Debit Card

Abstract:
Credit card is financial instrument to a personal usage . It is a 45 to 50 days interest free card to user. Using a credit card is a simple way to repay debt. You can use it to shop for goods and services without needing credit or cash. It handles all of your expenses, including daily spending, expensive dining, supermarket shopping, Due to their convenient use and convenient repayment choices, credit cards have become an indispensable part of our life. When used responsibly, credit cards may be quite advantageous, offering discounts, benefits, and offers that are unmatched by other financial products. However, if used carelessly or if you overspend when it comes time to pay the bill, credit cards can turn into a source of spiraling debt. One sort of credit facility that banks offer their customers is a credit card, which lets them borrow money up to a predetermined credit limit. Customers are able to transact for goods and services with it. The credit card provider establishes the credit limit by taking into account various aspects, including income and credit score. Bonus tip: Check your score right now using the free credit score checker tool. The credit card number, cardholder name, expiration date, signature, CVC code, and other details are included in the credit card information. The fact that a credit card isn't connected to a bank account is its strongest feature. Therefore, the amount that is taken out of your bank account, not your credit card limit, is what happens when you swipe your card. It can be used to cover emergency services, other lifestyle items, food and clothing costs, as well as travel. This article highlights the growth of credit cards in India and advantages and disadvantages of credit cards.

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 1
PageNo: 360-364

CREDIT CARDS IN INDIA-GROWTH OF PERSONAL FINANCE

Available:https://ijirt.org/Article?manuscript=165108

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UGC Approved
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