Bank Credit Cards
Bank Credit Cards are also referred as:
1) Major Credit Cards
2) Visa Credit Cards
3) MasterCard
What are Bank Credit Cards and
How They Work?
• Small plastic cards
• Offer both Visa, MasterCard
• Are usually offered by a bank or some financial institution,.
• You can apply for these credit cards by requesting an application from the holder of the credit card company or by going online
• Usually assigns a credit limit to each card holder
• Can use at any store that accepts them. Most stores accept the majority of bank credit cards
• Can get cash with the card.
• Can be used at most bank’s ATM machines to withdraw cash from the card.
• Charges interest if balance is not paid in full each month
• Charges fees such as over the credit limit fee, late payment fee and other fees may apply too.
• Interest and fees varies from card to card.
• Offers minimum balance payment plans.
• Will receive monthly statement
The monthly statement will show your last purchases since last payment, your due date, your balance, your minimum payment and the interest that’s charge. It will also show all fees that you owe such as late payment fee, etc
Click next page to learn about other credit cards
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