Today world believe in cashless transaction where credit cards are standing first. Few years ago master card and visa were in more fashion. Mostly banks used to offer these cards to their customers who had established accounts. Later platinum card, gold card, silver card came in fashion. All kinds of cards offers their customers certain amount of credit. Platinum cards offers more than their bank limits. These cards are mostly offered to those who has high frequent income. Such cards attached additional fees which a high level person never-mind to bear. In return bank offers some kind of insurance and travelling trips to the card holder. No matter in which part of world you are in, the use of credit cards is increasing day by day.

Today the concept of these credit cards has been changed a lot. It’s not necessary that you have to be rich to hold a platinum or gold credit card. Today norms have been changed and a middle income holder can also manage such luxurious cards. Today gold card comes along low interest rate. Similarly platinum cards offers you additional benefits such as heavy discounts on specific brands. The repayment process of all credit cards are similar, you must have good credit that’s it. As credit cards are making life easier people are getting depend on it. Sometimes careless expenditures via these cards cause credit card debt which is a hectic situation. Debt of any kind is always troublesome. People facing debt issues sometimes need medicines and therapies to come out of this. Today average of population are having credit cards and among them 10% spend rationally whereas 90% of population are spending spendthriftly via credit cards.

Over spending or so called emergency shopping may be the reason of credit card debt. There are many options available to repay credit card debt. Secured loans like consolidation is most suggestible option to amend credit card debt. Consolidate credit cards and make life easy and tension free. These loans ask some security like property or vehicles. Less interest rate as well as easy to repay. Those who are suffering from bad credit history gets these loans at higher interest rates. All banks who issue credit cards works on different terms. Customer must read their terms and conditions carefully before applying a card. Some bank offers least interest rate for 36 days after that failing in repaying the due amount they multiply interest rate by double. On the other hand some banks offers stable interest rate at least for 75 days after that they increase rate.

All such things are mentioned in documents you are given at the time of card issuance. Customer must be careful and aware with all these facts in order to get best benefits. Some companies offers you low APR and offers cash back at every purchase, on the other hand some companies offer high APR but exciting advantages. Every company have their own policies being a customer you must be aware with these facts. All this depends on the choice of credit card holder and spending habits. Those who shop rarely via credit card never mind for high interest rate they believe in secured transaction. Those who frequently shop via cards gets attracted by cashback offers. They want less interest rate as well as cash back offers and heavy discounts. In short credit cards are making life easier but increasing the numbers of creditors.

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