Credit card guides

A credit card is a piece of plastic about 3.5 x 2 inches in size. Some of the features of credit cards are:
Logos: The credit card carries logos of the card association (Visa, MasterCard) as well as that of the card issuing bank (ICICI, HDFC and so on) in the front.

Number: The credit card number is embossed in the front. This is usually a 16-digit number. The first digit symbolises the major industry. Banking industry cards usually start with 4, 5 or 6. The first six digits of the credit card number identify the card issuing bank. The next nine digits denote the individual’s account number. The last digit is a check digit.

Once you know the manner in which the process is being done for a transaction there is also a need to know the various variants in the use of a credit card. This will help you in knowing the exact steps that have to be taken while making different uses of the card.

The best thing about a credit card is that there is no restriction about the time and place of its use. A credit card can be used in any city; more importantly, when traveling abroad it frees a person from having to keep foreign currency with them. This is a major relief because carrying foreign currency around in a foreign land becomes a bit difficult task for any traveller. Thus, a credit card becomes very important for someone who is on a long trip across different nations or needs to travel worldwide for business.

The easiest way to understand a credit card is to think of it as a ’short-term, unsecured loan’. In common terms, a credit card is also referred to as a piece of plastic. Credit cards allow the users to make expense that they can pay at a later date. This credit [...]