Credit Cards - Features

As well as convenient, accessible credit, the cards offered consumers an easy way to track expenses, which is necessary both for monitoring personal expenditure and the tracking of work-related expenses for taxation and reimbursement purposes. They have now spread worldwide, and are offered in a huge variety of permutations with differing credit limits, repayment arrangements (some cards offer interest-free periods, while others do not but compensate with much lower interest rates), and other perks (such as rewards schemes in which points "earned" for purchasing goods with the card can be reclaimed for further goods and services). 

In addition, some countries such as the United States limit the amount that a consumer can be held liable for fraudulent transactions that shifts the liability to the merchant. This encourages the use of credit cards for electronic and mail order transactions, collectively called "card not present" transactions. For further security, some banks are offering one-time numbers for use in these transactions. They have spread far and wide beyond their initial market of the wealthy businessman and are now ubiquitous amongst the middle class of most Western countries.

Cash Advance: 
An important feature - lets you withdraw cash from designated ATMs using your credit card. Use discretion when withdrawing cash on your credit card because the charges for this facility are high, around 2.5% to 3% per transaction! 

Credit: You can spend now, pay later. 
When you use a Credit card to pay for anything, you get an interest-free period of 45 days. Billing cycles are structured in such a way that you definitely get at least 30 days out of these as clean credit time, which is especially beneficial to salaried people. Better still, you can opt to pay your bill in full when you receive it or you can carry forward your payments by paying as little as 5% of the total amount on or before the due date, every month. 

Convenience: 
With a credit card on you, you don't need to run the risk of carrying a lot of cash.