<h2 class = 'uawtitle'>How Credit Cards Are Beneficial To Users.</h2><br />
<div style='font-style:italic;' class='uawbyline'>by William Darren</div><br /><br />
<div class='uawarticle'>Some cards are issued to customers to allow them pay for services and goods rendered by people in terms that the card holder will pay at a later day, with additional interest.<br />
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The bank creates an account for the card holder to keep track of the debts incurred; the debt in this account does not have to be paid monthly. Credit card programs are basically payment of services on bank credits. Credit cards are different from charge cards, where debts have to be paid in full monthly. They allow anyone infinite debt balance with charge interest on it.<br />
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Credit cards are totally not the same with charge cards, which gives a deadline for the money lent, since they don't have time limits.<br />
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An affiliation partnership contract is agreed upon between banks and business to produce cards; these cards are referred to as Co-branded credit cards. These contracts bid business on the agreement that they must accept credit cards for transactions. This is advertised at the business in one form or the other to inform the cardholders of the availability of payment options.<br />
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Before the credit card is issued, an account is created by the bank or the crediting company for the card holder to monitor the expenses and the debt owed after the issuing if the card.<br />
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At the end of each month, the card holder is sent a summary of all transactions made with the card, the total amount spent and other bank charges. The cardholder is then given time to check, in case of any error, it can be referred back to the bank.<br />
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At the closure of every month, a summary of account is sent to the card holder to keep the cardholder informed about the loans. It is a form of reminder for payments. The grace period is the time frame the creditor gives the card holder to pay part if the loan back.<br />
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Credit cards provide loyalty discounts and on every purchase, points are awarded and after accumulating can be used to redeem prizes and also purchase items. Credit cards are used to reduce frauds. They can also be used to withdraw money from Automated teller machines.<br />
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Loyalty points are awarded to card holders, after every purchase, these points can be used to collect free gifts when it accumulates. This encourages the users or holders to use these credit cards more. And finally, credit cards can also be used for the withdrawal of cash at ATMs to remove the need for debit cards.<br />
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<div style='font-style:italic;' class='uawabout'><br />
About the Author:<br />
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<div class='uawlinks'>William Darren is a advertising professional; he deals mostly with the use of <a href="http://www.creditoley.com/mastercard-prepaid-cards.php">prepaid card programs</a> and how <a href="http://www.creditoley.com/">co-branded credits cards</a> can help with daily transactions.. Free reprint available from: <a href="http://www.uberarticles.com/home.php?id=2174573&p=76924">How Credit Cards Are Beneficial To Users.</a>.<br />
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