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All About Credit Cards

Shopping around for a credit card can save you money on interest and fees. You’ll want to find one with features that match your needs. This information can help you


Here are some cards we recommend that you can apply for right now.

How Credit Cards Work

There are two aspects of how a credit card works there is the basic functions of a credit card and also the ways it offers financial aid. Learning this basic information about a credit card will help you when you decide to apply for your own credit card or if you wish to learn more about credit cards.

When you go to your favorite mall or shopping store and finally reach the check out, the clerk will ask you how would you like to pay, you will say with credit card. He will then swipe it and the process will begin. The machine will read the credit cards information from that black stripe located on the back of the card. The machine will then contact your credit card company’s computers, which will then contact the bank that gave you your credit card. This is to verify that the credit card account exists and that the card is not stolen or have any red flags. Also it will make sure that you won’t be going over your limit and the funds are available for you to access. That whole process from the time your card is swiped takes place in only a matter of seconds and ends with you signing the receipt.

Now the more important part of what a credit card is needed or used for is for its financial aid and the ability to purchase big-ticket items at any time if needed. People who get credit cards will use them each in many different ways some keep it for emergences such as sudden car repairs, house hold appliances that brake down, travel costs like plane tickets and so on.

A credit card works by letting you make charges and purchases as long as you don’t go over your limit and you get a set time to pay it back usually you make monthly payments to keep your balance low. If you make a purchase for $100 the credit card company will take a certain % some times 2% or more. If you’re wondering how the credit card companies make their money its through the high interest that they have usually u can see 10% - 29% interest so spending a lot of money can be fine as long as you pay it off quickly. Making charges during the week and paying it off on payday is a great way to keep up on your credit card payments and not find your self battling with the interest to get it down. Also credit cards offer rewards such as air miles that you will receive on each charge to the card you make for this option it can cost $50 a year also the card itself has a fee of $XX per year this can vary from company to company.

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