1. A credit card is pre-approved credit that allows individuals to purchase goods and services now and pay for them later. Credit limits are based on an individual's creditworthiness, or ability and willingness to repay debts.
2. Credit cards charge interest on unpaid balances and are primarily used for short-term financing. Holders can make purchases up to a pre-set credit limit and must make minimum monthly payments.
3. Credit card issuers, usually banks, set credit limits and reimburse merchants for purchases, while cardholders repay the issuer each month. Issuers make money through interest charges and fees.
This presentation is about the basic information of credit card.
Topics that are covered in this presentation:
1.What is Credit Card ?
2.About credit card network and company
3.Features of Credit Card
4.How does credit card work ?
5.Hologram and Ultraviolet Mark
6.advantages and disadvantages of a credit card
7.Safety tips
This is a presentation made on cheques ,It consists of all the information about : what are cheques,its legal definition, its history, the generalized features, the cheque types depending on the situation we use then and all the security features of cheques and the related case study.
This presentation covers the credit card business and highlights the many different types of credit cards available, how credit cards are processed and the major credit card issuers.
This presentation is about the basic information of credit card.
Topics that are covered in this presentation:
1.What is Credit Card ?
2.About credit card network and company
3.Features of Credit Card
4.How does credit card work ?
5.Hologram and Ultraviolet Mark
6.advantages and disadvantages of a credit card
7.Safety tips
This is a presentation made on cheques ,It consists of all the information about : what are cheques,its legal definition, its history, the generalized features, the cheque types depending on the situation we use then and all the security features of cheques and the related case study.
This presentation covers the credit card business and highlights the many different types of credit cards available, how credit cards are processed and the major credit card issuers.
Marketing Strategy - Brand Revamping Strategy for a Credit Card CompanyEUN5E
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The presentation include brief of the consumer credit its meaning ,its types and further brief. It will not give detail notes about all but yes brief of everything is included.
If you think it is helping you out please let me know and also if any other topics which you think i should cover suggest me. your suggestions will be noted.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
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Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
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Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
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The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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1. XPXPXP
INSTITUTE OF MANAGEMENT
STUDIES
CREDIT CARD
SUBMITTED TO:
Miss Deepika Batra
SUBMITTED BY:
Jaishree Asnani(55548)
Manish Verma(55562)
Nidhi Nema(55570)
Sanyukta Agrawal(55606)
2. XPXPXPCredit Card
What is a credit card?
Pre-approved credit which can be used for the purchase
of goods and services now and payment of them later
A credit cards credit limit varies based upon
an individual’s perceived creditworthiness
Credit limit is the
maximum amount
loaned
Creditworthiness is an
individuals ability and
willingness to pay the money
back
3. XPXPXPCredit Card
Credit cards charge interest and are primarily used for short-term financing.
Interest usually begins one month after a purchase is made and borrowing
limits are pre-set according to the individual's credit rating.
It allows its holder to buy goods and services based on the holder's promise
to pay for these goods and services.
The issuer of the card creates a revolving account and grants a line of credit
to the consumer (or the user) from which the user can borrow money for
payment to a merchant or as a cash advance to the user.
Holders of a valid credit card have the authorization to purchase goods and
services up to a predetermined amount, called a credit limit.
The vendor receives essential credit card information from the cardholder,
the bank issuing the card actually reimburses the vendor, and eventually the
cardholder repays the bank through regular monthly payments.
If the entire balance is not paid in full, the credit card issuer can legally
charge interest fees on the unpaid portion.
4. XPXPXPCREDIT CARD ISSUER
A credit card issuer is a bank or credit union that offers credit
cards.
The credit card issuer makes the credit limit available to
cardholders and is responsible for sending payments to
merchants for purchases made with credit cards from that bank.
Also called member banks. Chase and Citi are examples of
credit card issuers.
Credit card issuers can't issue credit cards all by themselves,
they need the help of payment processing networks like Visa
and MasterCard (a credit card association).
However, American Express and Discover act as both the
credit card issuers and the payment processing network.
5. XPXPXPCREDIT CARD AGREEMENT
• A Credit Card Agreement is a contract between
a credit card issuer and the cardholder. The
credit card agreement spells out the terms,
conditions, pricing, and penalties of the credit
card.
6. XPXPXP
• The annual percentage rate for each type of balance that can be carried –
purchases, balance transfers, and cash advances.
• Finance charge information including the minimum finance charge and the finance
charge calculation method.
• Grace Period.
• Credit Card Fees.
• Credit Limit and information about how your credit card issuer can change it .
• Details about using your credit card in another country.
• Options for paying your credit card balance.
• How your information is shared or kept private.
• Changes the credit card issuer can make to your account.
• What constitutes default and what happens if you default.
• How to handle a lost credit card.
• How to close your account.
• How to handle disputes with the credit card issuer .
• The legal body who enforces the credit card agreement.
The credit card agreement will list:
7. XPXPXPEligibility For Getting The Card
• Person should have a savings/current account in the
bank.
• His assets and liabilities on a particular date are
reported to bank.
• A statement of annual or monthly income.
• He is considered credit worthy up to certain limit
depending upon his income, assets and expenditure.
8. XPXPXP
How a Credit Card Issuers Makes
Money
• Credit card issuers (most often a bank or credit union) receive revenue
from fees paid by stores that accept their cards and by consumers that use
the cards, and from interest charged consumers on unpaid balances.
Credit Card Companies make money in a number of ways like :
Fees (annual fee, over limit, past due, etc)
Interest on the revolving loan if a credit card balance is not paid in
full each month.
The card Issuer [the bank that issued the card and/or the issuer
network ie: Visa, MS, American Express, JCB etc] makes a
percentage of each item you purchase from the merchant who accepts
your credit card. These rates range from 1% to 4% of each purchase.
Last, the cardholder can make additional money through other means,
such as selling your name to a mailing list or sending advertisements
in your monthly bill. (Due to regulation, this is becoming less
frequent)
9. XPXPXPTypes of Credit Cards
Standard Credit Card
Premium Credit Cards
Charge Cards
Limited Purpose Card
Secured Credit Cards
Prepaid Credit Cards
Business Credit Cards
Reward Credit Cards
Student Credit Cards
Travel and Entertainment Credit Cards
Zero Percent Interest Credit Cards
10. XPXPXPTypes of Credit Cards
Standard Credit Cards
The most common type of credit card allows you to have a
revolving balance up to a certain credit limit. Credit is used up
when you make a purchase and made available again once
you've made a payment. A finance charge is applied to
outstanding balances at the end of each month. Credit cards
have a minimum payment that must be paid by a certain due
date to avoid late-payment penalties.
Standard credit cards are also called "plain-vanilla" credit cards
because they offer no frills or rewards. They're also
uncomplicated and relatively easy to understand.
Since each person's financial needs are different, it makes sense that there are
different types of credit cards. Before you apply for a credit card, become familiar
with the various kinds of credit cards to make sure you're choosing the best credit
card for you.
11. XPXPXPTypes of Credit Cards
Premium Credit Cards
•These cards offer incentives and benefits beyond that of a regular credit card.
Examples of premium credit cards are Gold and Platinum cards that offer cash
back, reward points, travel upgrades, and other rewards to cardholders.
Premium cards can have higher fees and usually have minimum income and
credit score requirements.
Charge Cards
•Charge cards do not have a preset spending limit and balances must be paid in
full at the end of each month. Charge cards typically do not have a finance
charge or minimum payment since the balance is to be paid in full. Late
payments are subject to a fee, charge restrictions, or card cancellation
depending on your card agreement.
Limited Purpose Card
•Limited purpose credit cards can only be used at specific locations. Limited
purpose cards are used like credit cards with a minimum payment and finance
charge. Store credit cards and gas credit cards are examples of limited purpose
credit cards.
12. XPXPXPTypes of Credit Cards
Secured Credit Cards
• Secured credit cards are an option for those without a credit history or
those with blemished credit. Secured cards require a security deposit to
be placed on the card. The credit limit on a secured credit card is equal
typically at least the deposit made on the card, but it could be more in
some cases. You're still expected to make monthly payments on your
secured credit card balance.
Prepaid Cards
• Prepaid cards require the cardholder to load money onto the card before
the card can be used. Purchases are withdrawn from the card's balance.
The spending limit does not renew until more money is loaded onto the
card. Prepaid cards do not have finance charges or minimum payments
since the balance is withdrawn from the deposit. These cards are not
actually credit cards and they don't directly help you rebuild your credit
score. Prepaid cards are similar to debit cards, but are not tied to a
checking account.
13. XPXPXPTypes of Credit Cards
Business Credit Cards
•Business credit cards are designed specifically for business use. They provide
business owners with an easy method of keeping business and personal
transactions separate. There are standard business credit and charge cards
available.
Rewards Credit Card
•Rewards credit cards give you a bonus based on your card usage. Choosing the
right rewards credit card means picking one that gives rewards you can use. With a
good rewards card, you can out earn any costs, e.g. annual fee, without too much
hassle.
Balance Transfer Credit Cards
•Balance transfer credit cards are good for combining several credit card balances
or for taking advantage of a lower interest rate. Not only should you consider the
introductory balance transfer interest rate, but also how long the rate lasts and the
rate that applies once the promotional rate expires.
14. XPXPXPTypes of Credit Cards
Student Credit Cards
• Student credit cards are
designed for college-aged
consumers who are just
starting out with credit.
These cards typically give
credit to college students
who lack a credit history. Not
every credit card with
"student" in the title is
actually good for students.
So, if you're on the market
for one of these cards, make
sure you pay attention to the
credit card terms.
Travel and Entertainment
Credit Cards
• A credit card that can be
used to cover travelling
expenses and for your
enjoyment/entertainment.
An example of a T&E card is
"Diners Club." It can only be
used at certain restraunts
which would constitute
"entertainment.“
Zero Percent Interest Credit
Cards
• As the name indicates, zero
percent credit cards do not
require the credit card owner
to make any kind of interest
on their shopping. You could
utilize your credit card and
also purchase anything you
desire and pay only the
monthly minimum
requirement.
15. XPXPXPCLASSIFICATION OF CREDIT CARDS
Based on mode
of credit
recovery
Based on
status of
credit card
Based on
geographical
validity
Based on
franchise/
Tie-up
Based on
issuer
Category
Charge
Card
Revolving
credit card
Standard
Card
Domestic
card
Internation-
al Card
Individ-
ual Cards
Corpor-
ate Cards
Proprie-
tary card
Business
Card
Gold Card
Master
Card
VISA
Card
Domestic
Tie-up
Card
16. XPXPXPBased on mode of credit recovery
• Charge Card- A card that charges no interest but
requires the user to pay his/her balance in full upon receipt
of the statement, usually on a monthly basis. While it is
similar to a credit card, the major benefit offered by a
charge card is that it has much higher, often unlimited,
spending limits.
• Revolving credit card- A line of credit where the
customer pays a commitment fee and is then allowed to use
the funds when they are needed. It is usually used for
operating purposes, fluctuating each month depending on
the customer's current cash flow needs
17. XPXPXPBased on status of credit card
• Standard Card- It is a generally issued credit card
• Business Card- (Executive cards ) It is issued to small
partnership firms, solicitors, tax- consultants , for use by
executives on their business trips.
• Gold Card- A credit card issued by credit-card companies
to favoured clients, entitling them to high unsecured
overdrafts, some insurance cover, etc
18. XPXPXPBased on geographical validity
• Domestic card- Cards that are valid only in India and
Nepal are called domestic cards.
• International Card- Credit Cards that are valid
internationally are called international cards.
19. XPXPXPBased on franchise/ Tie-up
• Proprietary Card- A bank issues such cards under its own
brands. Eg. SBI card Cancard of canara bank.
• Master Card- This card is issued under the umbrella of
“MasterCard International”
• VISA Card – It is issued by any bank having tie up with
“VISA international”
• Domestic Tie-up Card- It is issued by any bank having tie
up with domestic credit card brands such as CanCard and
IndCard.
20. XPXPXPBased on issuer Category
• Individual Cards- Non-corporate cards that are issued to
individuals
• Corporate Cards- Issued to corporate and business firms.
21. XPXPXPInnovative Cards
• ATM Cards cum Debit Cards- Debits designated saving
bank a/c.
• Private label Card- Issued by retailers and can be used
only in that retailer’s store.
• Affinity Group Cards- It can be used by collection of
people with some form of common interest or relation
(professional, alumni, retired persons org. )
22. XPXPXP
Safety Tips
Sign card with signature
Do not leave cards lying around
Close unused accounts in writing and by phone, then cut up
the card
Do not give out account number unless making purchases
Keep a list of all cards, account numbers, and phone numbers
separate from cards
Report lost or stolen cards promptly