Rise on Demand for Charge Cards

By BankBazaar | May 8, 2012

Customers these days are smart and well-disciplined when it comes to financial matters. People are increasingly wary of the need for good and steady financial behavior. They are no longer highly susceptible to the fallouts of credit card houses by way of tricky credit card interest rates or other suspicious clauses of your terms and conditions contract. People have begun to understand the need for finding and utilizing more rewarding arenas to direct their money. As credit cards have evened out in demand, and debit cards have provided a safe solution for all their customers, a relatively new entry in the plastic money industry, the charge card, has begun to gain fast momentum due to its envious offers and advantages. The reason behind the charge card’s quick and enormous growth spurt is that it combines the best of the three worlds of credit, debit and cash in one strategic and convenient plastic. Customers enjoy unique value propositions, well-planned and systematic financial control, in addition to a string of other miscellaneous benefits.

The reason why charge cards are a huge hit today may be attributed to the fact that charge cards are completely interest free, a feature that every card user would love to associate themselves with. Card members are instead required to clear their balance on a monthly basis, as they receive their monthly card statement. There are no prerequisites fixed like pre-spending limit, unlike other plastic money, where all cards have a prefixed standard credit limit. Charge cards also often personalization as they have an in-built system of intelligence that can determine your spending demands and needs, giving a customized touch to the much needed spending power and flexibility you desire. You also have the advantage of protecting your finances by way of a change card. As all charge card users are required to clear their dues on the receipt of their monthly card statements, charge card users have the option to review and control their expenses. You will get an opportunity to understand your spending pattern and comprehensively decide whether you are on the right track to achieve your financial goals. Once you’ve cleared your monthly charge card dues, you will further be given the golden period of “interest free” days for a maximum period of up to 51 days. Unauthorized transactions and their dangers will no longer lurk in your mind due to the unprecedented flexibility and control enjoyed by you. Banks are also not authorized to levy any form of interests on your cards, due to the monthly settlement of dues strategy. You thus get the powerhouse package of protecting yourself from falling into the debt trap coupled with the opportunity to make a sparkling credit rating, devoid of any negative remarks. Moreover, the charge card is an intelligent companion that understands all your matters of finance. It has no prefixed credit requirements and as a result, you will not be burdened to adhere to any such financial limit. It is also wise enough to appreciate and notice good financial discipline, and as a reward, it increases your financial spending power a notch higher. As the esteemed member of a charge card, you will be showered with gifts and presents, and yes, the all important reward points. In the matter of cash cards, customers do not enjoy the opportunity to make lasting relationships with their respective bank. As a result, banks go all out to make customers feel loved and pampered with reward points and bonus points on every transaction you need. Your bank may also shower you with premium insurance policies like travel insurance and travel benefits, if you are a frequent flyer, concierge services around the clock, and global customer acceptance. Thus, charge cards are exactly what you need if you are seeking to understand your spending pattern or add some discipline in your financial schedule, or most importantly, build a robust credit rating history since any default in your payments will not give you a further opportunity to opt for a personal loan or a home loan in future.

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