Overview

Credit card-Plastic money is so important in this part of the world. Many credit card issuers run programs to encourage the use of the card where the cardholder is given cash back, air miles, discounts etc. if you use your credit card in order to make your daily payments. The card issuers provide up to 55 days grace period to make the payment without any additional charges. Card can be free for life, free for a first year or paid card. Most of the cards allow converting your purchase into installment at a nominal fee. A cardholder typically receive between 1% to 5% cash back or worth of points on their cards which is either credited to the credit card account or paid separately. Credit cards are good if you manage well.