In todays time I feel most of you hold a credit card but having a credit card with no basic information about it could be harmful for your financial stake. Credit card is an instrument that could be easily used to purchase something whereby you owe that money to the person who has issued the credit card to you.
There are innumerable features of a credit card as many cards are there.
1. The first and foremost feature of any credit card is the rate of interest you are obliged to pay on its unpaid balance. In case of most of the cards, you get 30 days to make payment for any initial purchase and if you pay the balance in full then there are some cards that dont even charge any interest rate. If the charges are not being paid within the period of 30 days then the remaining balance is charged with an interest rate charge. This interest rate depends upon number of factors such as current APR and your credit rating.
2. Other feature of credit card is the credit limit that is the amount of money you can charge before the credit company cuts you off. The credit limit also depends upon your credit rating because if you have a good credit rating then...
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