BSN Stock Photo

In this present 21st century where every seconds is very precious, credit cards plays a very important role. It actually helps the user to purchase any goods and services at any time any where without carrying the money with them.

The Credit cards are actually a small plastic cards that were issued by the financial organizations to the users to buy anything on credit bearing the promise to pay a the money along with a certain amount of interest to the organization within a stipulated period of time. There shape and size will be ISO/IEC7810 standard as ID-1. At the time of purchase the credit card holder signs a receipt which includes the card details and the amount that is to be paid. The user is given a PIN number which they have to give at the time of making the purchase.

Every month, the credit card user are sent a statement indicating the purchases undertaken with the card, any outstanding fees, and the total amount owed. After having received the statement, the user may dispute any charges which are stated to be incorrect. If there is no dispute the cardholder have to pay a certain proportion of the bill by by the due date or else he/she will have to pay a higher charges to the entire amount owed. There are certain financial institutions that make some arrangement for the automatic payments option, by which the amount will be directly deducted from the user's bank accounts, which actually avoids the late payment. At present there are various banks like SBI, ICICI , ABN-AMRO, and the American Express which provide credit cards to the customer and at a specific rate of interest.

SBI also provide Credit Cards to their customers according to the needs and capacity of the customer. The different cards that it offer to its customers are SBI platinum cards, SBI Gold and more cards, SBI Silver and more cards, Partnership cards and other various types of cards like SBI Advantage cards, Cards for doctors and cards for employee. The charges are also different as per the cards. The customer can make the payment of the card by various ways like online, Paynet, SBI Drop boxes, ECS, Electronic Drop boxes , Visa money transfer etc.

On the other hand ICICI Bank also provide different Credit Cards to the customers and also provide diferent facilities like Auto Debit, Internet banking, Cash in advance, Email statement or Mobile Alerts and they also provide 24 hours online helpline services to the customers which help the customers to get any information at time. They provide cards to the customers in two different categories like consumer cards which include credit cards, travel cards, Debit Cards and Commercial Cards like Corporate cards, prepaid cards, Purchase cards, distribution cards etc.

The American express on the other hand provide Gold and Green Amex cards specially for the Indian customers. The Amex card holder can avail various benefits like discounts of 3% to 7% on airline tickets and 40% discount on overseas hotel rates. They have different variety of cards according to the taste and preference of the customer.

Thus we can see that the credit cards are a very essential thing in ones life and people should have this in order to eliminate the risk of carring a lots of loose cash in order to purchase some thing from the customer.

About the Writer -

The author is a business writer for finance and credit products. Know more on ICICI Bank Credit Card, American express credit card visit www.paisawaisa.com/