The Purpose Of Retail, Joint Account & Charge Credit Cards

Credit card enables a person to buy, pay the bills or avail services without paying hard cash. And that’s what makes credit cards a hot commodity. Let’s see the purpose of some of these credit cards.

Retail purpose credit cards
Retailers issues credit cards to be used only for official purposes by their employees and other related stakeholders. For instance, gasoline companies issuing cards to purchase fuel.

Joint account credit cards
You can open a joint credit card account affiliating with your parent, close relative or spouse who has a good credit. The financial organization will approve your application based on the other individual’s good credit rating. Both the account holders will receive the notifications about all the credit card transactions.

Charge Cards
Companies like American Express offer Charge Cards that are similar to credit cards. The balance of a charge card, however, is to be repaid in full every month and cannot be carried over to the subsequent month like credit card. Charge cards also do not have any kind of credit limits like the credit card holds or offers. Hence, it is wise if you spend up to an amount which you will be able to pay off at the month’s end.

Image Source: blog.cardback.in

Leave a Reply