CREDIT CARD AND ITS TYPES:

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A credit card is basically a thin rectangular slab of plastic. Generally, these cards are issued by financial companies like bank to allow cardholders borrow funds to pay for the purchasing of goods and services. With a credit card you can perform your payments easily. It is also important to know that by using credit cards you have to abide by the condition that cardholders pay back the borrowed money. Additionally, the interest and any additional agreed-upon charges also are part of these terms and conditions. Credit cards are widely used by everyone. It is one of the services provided by banks to make transactions easy.

TYPES: the two major types of credit cards are Visa and Master card.

VISA CARD: the three levels of membership provided by visa card are: base, signature, and infinite. Visa card is differentiated with Master card on the basis of its  “Loss of Use” service coverage on car rental insurance. But in certain countries, Visa’s benefits exclude car rental insurance.

MASTERCARD: master card is also popular among credit card holders. It offers three levels of membership: world, base and world elite. MasterCards are known to have better cost protection service. It  means that  if you buy something with a MasterCard and the price is reduced within 60 days, MasterCard will refund the difference.