Credit Cards: Get the Right Credit Card for You

As markets mature, credit cards tend to replace cash
what is a credit card? A credit card is a plastic card with a magnetic strip containing data, and is a financial instrument allowing the holder for pay for goods or services on credit and in lieu of cash. While credit card companies provide the infrastructure to settle the transactions, the cards are issued by banks and increasingly by retail outlets and other consumer-oriented entities.

Credit cards allow customers to buy goods and services immediately and then settle the bill for aggregated transactions at a later date. Debit cards, on the other hand, allow customers to buy using funds directly debited from their accounts.

Visa and Mastercard are the two largest credit card companies worldwide. Both were originally formed by consortia of banks. American Express is both a credit card provider and a bank. JCB is popular in Japan and Diners Club is also a major worldwide provider.