Today, credit cards have many functions and are very versatile. They can be summarized into the following functions:
Credit
Credit Card Cash Advance
The holder may get extended credit up to an agreed limit at a published interest rate.
charge
The holder can repay the whole number at the end of the month, without charge in case,granted no cash advance has been taken.
Cash
On presentation at the acceptable banks, subject to check, cash can be obtained. In most cases can also be used in Atms to get cash.
Cheque certify
A cheque drawn on a bank may be guaranteed up to a published limit in case,granted it is accompanied by a Cheque certify Card (or in some cases a Visa or Mastercard card) issued by the bank on which it is drawn.
Cheque encashment
Cheque guaranteed as above may be used to get cash from branches of most banks, although a charge may be levied in inescapable circumstances.
International
If the card is a member of Visa International or Mastercard International, you can use your card at many countries where there are a lot banks who are members of them.
Perhaps the most important fact to emerge from the summary of card functions is that strictly speaking, they are not debit cards. Although they can be used to get cash via Atm, the debit will be made from the credit card catalogue and not from the holder's bank account.
The credit cards discussed above are bank cards. Distinct bank cards have Distinct card functions. The functions of bank cards admittedly depend on the private bank itself. Some bank card may have all of the above functions and some may not.
There other credit cards that are issued by sell stores such as Petrol Card, Quasi Card and hidden Label Card which may have some of the above functions mentioned above.
various Functions of a reputation Card Credit Card Cash Advance
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