In the olden days people first earned their money and then they spent out of the saved money. Nowadays, the trend is reversed. Issue credit card first according to paying capacity, spend first according to credit lime, then earn for easily repaying the credit balance either in full or in monthly installments.
Some credit card companies offer rewards as cash back on retail purchases. Such Rewards Credit Cards are widely accepted and most popular from the public point of view, as it is easy to spend cash quickly than any other reward. However other rewards like hotel, air miles, gasoline, rental car discounts and some other rewards also attract a large number of customers to the credit card industry.
All major credit card companies like Visa, Master Card and American Express specially offer students credit card to the younger generation. Students’ credit cards are in great demand in countries like Canada, USA and UK where college education is a costlier affair to manage from the funds available.
Credit card issuers offer Business Credit Cards just to make the job of business accounting easier, by segregating business costs from personal expenditure and generating a business credit report. For this purpose they report to major business credit agencies like Business Credit USA, Equifax Business,, Experian Business, Dun & Bradstreet etc.
Oct 16