Credit Card

Credit Card

Credit card (credit card ) is a card issued by a bank or financial institution specific to the user so that they can buy goods and services from companies that accept the card without payment in cash ( debt ) . In other words , the credit card is an electronic money issued by an institution that allows the cardholder to obtain credit in a transaction that returns can be made ​​in installments in accordance with the specified time .

For example, last month's bill was Rp . 1,000,000 , with a minimum payment of 10 % of the total bill , the card holder has to pay the minimum installment of Rp . 100,000 . if the card holder transactions exceed the credit limit , the minimum payment is the amount of the excess of the credit limit plus 10 % of the total credit limit . If the card holder is doing a delay in payment , will be charged a late fee or late charge . Credit cards can also be used to make cash withdrawals through the teller or ATM cards printed logos or names are owned , either inside or outside the country . Credit cards are commonly used in these transactions are Visa and Master Card .

According to the Financial Consumer Agency Canada ( FCAC ) , the definition of a credit card is a plastic payment card that Allows the holder to Obtain goods and services on credit terms and without the requirement to pay cash . Credit cards can be interpreted as a form of plastic payment card that allows the owner to purchase goods or services through a credit agreement without having to pay in cash .

By issuing credit cards , certain financial institutions have meant " offer debt " to the other party in order to buy goods or services to merchants ( merchants ) are not cash , as payment has been guaranteed by the bank as the company that issued the credit card ( issuer ) . On credit cards , do not require users ( cardholder ) has a balance in the bank , this requirement is different from a debit card that requires deposits money in the bank concerned. Without adequate savings , debit cards can not be used for transactions .

On credit cards , each transaction or disbursement of funds by the cardholder simply by way of showing his credit card to be recorded and verified . After that then the card is returned to its owner , because its existence is not at all transferable to another party .

BAHRUL ILMI N 11220098