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Comparing Credit Cards

Comparing Credit Cards. By- Jaydeep Shah. Debit Cards. Debit cards are similar to credit cards . Debit cards do  not  create or increase a loan like credit cards do. You can use debit cards very much like a plain old credit card.

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Comparing Credit Cards

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  1. Comparing Credit Cards By- Jaydeep Shah

  2. Debit Cards • Debit cards are similar to credit cards. • Debit cards do not create or increase a loan like credit cards do. • You can use debit cards very much like a plain old credit card. • Funds taken from the money that you have in your bank account. (Spending your "own" money) • You can be use as Debit Card and Credit Card. • There is no line of credit in Debit Card. • It does not affect credit history. • Debit Cards equals to your account limit. • Debit Cards connected to Checking Account, and Savings Account. • Cheque and Cash is alternate payment type of Debit Card. • Debit cards never charge interest. • Sometimes somewhere Debit Cards ask for PIN Number. • Debit Cards never give us any offer protection.

  3. Credit Cards • A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. • You can be used as Credit Card only. • Credit Card need not be connected to any bank account. • Credit Cards’ limit is – credit line, which can be increased/decreased from the time of applying. • Credit Cards carries line of credit. • Cash is Alternate Payment Type of Credit Card. • Credit Cards charge interest. Credit Cards have higher interest rates (around 19% per year) than most consumer loans or lines of credit. • Credit Card never ask for PIN Number. • Credit Cards give us the offer protection. Ex.Insurance on a rental car.

  4. Master Card • Master Card is the #2 payment system in the US. • 0% introductory APR on purchases for the first 12 months after account opening. After that, variable APR, currently 14.99% or 18.99%, based upon your creditworthiness. • Credit Cards founded in 1966. • 5,600 Employees were working in 2010. • MasterCard Worldwide is an American multinational corporation with its headquarters in the MasterCard International Global Headquarters in Harrison, New York, United States. • $89 is Annual Fee for Credit Card.

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