Simply put, credit cards are just a few of the plastic that will fit easily in your wallet. It is a very powerful plastic and can be regarded as compressed cash. We are a credit system that allows consumers to borrow money from banks and financial institutions on the spot and use it to make payments to merchants
In order to obtain a credit card, the consumer is actually like an agreement between the credit card supplier and the credit card consumer - the form credit card supplier approves the application form and plastics (ie credit card ) To consumers. This plastic (or credit card) electronically encoded security in the form of a magnetic strip (generally on the backside of a credit card) In terms of using this information pole payments are also consumer credit cards is. Consumer credit card shopping is a business shop and the internet. Of course, this is the subject of the merchant's ability to accept this credit card payment. But accepting credit cards is not enough. Merchants accept payments made via a credit card provided by that credit card organization (you hold a credit card) You also accept credit cards to withdraw cash from Atm (Automatic Tellers Automatic Teller Machine) It can be used.
There are eight major credit card organizations, most of them work in many countries around the world. These are USA, City, Diners Club, JCB - visa, MasterCard, VISA. Mastercards and visas are probably the most popular ones. Then there are credit card suppliers or issuers who have affiliation with these organizations and issue credit cards on their behalf. )
In order to make a payment using a credit card, the credit card may be sent to a special credit card processing machine (when shopping directly at the store), or the credit credit card supplier may be required for these transactions Crossing the bill and then paying full to pay either full or partial (minimum) amount, the credit card supplier will not meet the amount of interest you owe, otherwise agreed beforehand The interest rate is satisfied. If you do not pay the minimum you may be too late to land and land. In addition, the credit card supplier will use the credit card of the month in which it was possible to spend the limit amount on the credit card supplier.
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