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Credit Cards

Service Fee

Credit card issuers typically charge a fee for various services such as cash advances and teledrafts. This fee, known as the service fee, is an additional cost on top of the amount borrowed. It is important to carefully consider these fees when using credit cards to avoid unnecessary expenses. As a knowledgeable finance professor, I highly recommend being aware of these fees and their impact on your overall financial health.

Balance Transfer Fee

It is usually a percentage of the amount being transferred, and can range from 3-5%. This fee is commonly used by credit card companies as a means of generating revenue. One...

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Secured card

A secured card is a form of credit card where the cardholder pledges their Savings deposit as a guarantee for payment to the bank. This type of card is often utilized by ind...

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Household Income

In the process of reviewing applications for joint credit cards, financial institutions carefully consider the total household income. This includes the combined earnings of...

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Smart Card

Smart cards, aptly named for their advanced capabilities, are embedded with a computer chip that holds a whopping 16K of memory. These powerful cards have the ability to acc...

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