People using paper money and coins to pay something. Besides that, there are other forms of payment which are more efficient and simple. For example bank drafts, personal checks, traveler’s checks and credit cards.
Credit card is issued by a bank to an individual for a set period of time. To become eligible for a credit card, people must usually have a bank account and meet the required minimum annual income.
The credit card has many advantages. People can use credit card to pay for food at food court outlet, to pay for dress at a boutique, to buy an airline ticket and to settle bills in hotels in the country or abroad. Some credit card can be used only local area but others are accepted worldwide. The most benefit of credit card is that cardholders do not need to carry cash. With credit card people can pay for things in an emergency.
The credit card has some risks too. The cardholder’s tendency to spend more money. Actually when people use a credit card,it means that people have debts in bank and people have to pay debts and interest. Another risk of credit card is being overcharged.
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