Top credit cards

In the beginning, people Bartered. Barter is a type of trade where goods or services are exchanged for a certain amount of other goods;no money is involved in the transaction.It can be bilateral or multilateral as trade. However, what if you couldn't agree with the barter system,to solve that problem humans developed what is called money, which is paper and coins.

Using money has other problems carrying money was hard and risky. There cost carrying huge amounts of money with security guards is high .The banks started

Issuing promissory notes or certificates, which is guaranteed by the bank.

Later credit cards were introduced.

The technology has contributes a lot to the how money is changed hands.It is a technological marvel. Today, credit cards allow you to make countless purchases with out worrying about carrying money.

First only one or two companies started the service, after seeing the success several companies also started. Now Credit card has became one of the important things people carry in their wallet.

 Using credit card the buyer can sell goods or services without having cash in hand.

The user of credit gives an agreement with the credit card service provider that the money will be repayed at a later date .A user is issued a credit card after an account has been approved by the credit provider .The cardholder must pay entrire amount of the bill by a due date, or may choose to pay a higher amount up to the entire amount owed.

Credit cards are a useful and convenient way to pay for goods and services they've become part of our daily lives.

Credit card service providers offer variety of credit cards.The best credit card for you will depend upon how you intend to use it. Before you choose a credit card you should decide why you want it and how you intend to use it.

What do you want your credit card for? There are various reasons. Whether you intend to pay your entire bill in full every month, to spread the cost of spending over a number of months. Credit card comes handy in emergency situations.

The popularity of credit card is rising .the credit card comes very handy when we are traveling.

Credit card companies are offering variety of permutations with differing credit limits, repayment arrangements such as automatic payment from a personal bank account.

Most people use their credit cards purely to pay for purchases. These customers repay the outstanding balance in full and on time and so do not incur any interest or charges on their purchases.

Others choose to use their credit cards for occasional borrowing to help spread the cost of major purchases.

Almost all credit cards give you some period of interest-free borrowing for purchases, as long as the bill is paid in full every month by the payment date. This interest free period can vary between credit cards.

Once you know what you want a credit card for, and what benefits are most attractive to you, you can start to look at the different credit cards that are available.

Credit cards have also many significant disadvantages.These include fraud, failure of technology, possible tracking of individuals and loss of human interaction. Power failures, loss of records and undependable software often cause a major setback in promoting the technology.

Privacy questions have also been raised. There is a fear that the use of credit cards will lead to the creation by the banking industry of a global tracking system.

There are countless opportunities for fraud.Sometimes the consumers credit card is lost or stolen.So the consumer have to inform the credit card provider immediately otherwise there is a huge black market in stolen credit card numbers.

The credit card service is regulated. The credit card companies are given credit rating according to their credit worthiness.

Credit card use will decrease the amount of black money in an economy although there is many a sad story of credit card abuse; the trend is increasing use, with some predicting a cashless society in the not so distant future.

The era of globalization is making the way people conduct business easy and transparent.Credit card usage is becoming common.

The credit card is accepted now worldwide.Due to the globalization People can carry their credit card anywhere in the world and do business.

Most money in todays world is electronic. With the introduction of internet / online banking, Credit cards and online bill payments paper money is becoming a thing of the past.

Customers do not have to wait in lines.Credit cards and online bill payments allow immediate transfer of funds from an individual's personal account to a business's account without any actual paper transfer of money. This offers a great convenience to many people and businesses alike.

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