Posts Tagged ‘Credit cards’
October 1st, 2009 | 
Author: One of the popular means of payment named based on plastic cards issued to the customers is credit card. It is a card that can be used by the holders to buy goods and any kind of services. A line of credit is granted to the customer by the issuing company. This limit sets the threshold and the users can make purchases based on this amount.
Unlike charge cards, one need not pay the balance completely each month if he/she is using a credit card. These cards are usually issued by credit unions and banks. The shape of the cards and the size is according to the specifications of ISO/IEC 7810 standard. It is 85.6 mm in length and 52.98 in breadth.
The main advantage the credit card customers enjoy is convenience. Loans like short term loans can be made in a faster way than using checks or debit cards. As long as the credit customer maintains the line of credit, there is no requirement to calculate the balance remaining for each transaction. Credit cards feature fraud protection and they are more secure compared to other means. Another added advantage is that the customers need not carry bulk cash.
There are various banks and companies which issue credit cards and it is important to compare balance transfers as there are differences among many of them in terms of charges and transfer fee.
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Today it’s referred as the old plastic but all credit card buffs know that the first credit cards were not made of plastic but cellulose and metal plates. Encyclopedia Britannica documents that, the use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing them to customers. Also, in the 1920’s, stylish stores in the United States issued them to their favorite customers.
