Credit Card

Source: https://smartchoice.pk/blog/wp-content/uploads/2015/08/credit-card-images1.jpg 

For the next met, the topic is about credit card. They explained about the meaning of credit card, types of credit card, requirements to make a credit card, and the tips to use credit card. So, the meaning of credit card is a card that can be used to borrow fund and to used for short term transaction. At the end of month you must pay as much as you used to transaction for that month. 

The types of credit card are standard credit card, balance transfer credit card, reward credit card, limited purpose credit card, business credit card, etc. Standard credit card is a card that relative easy to understand, can be used to do a transaction, and you can used it after make a purchase. Balance transfer credit card is a card that tender a low rate on balance transfer for period time. Reward credit card is a card that tender reward on credit card purchase. The reward of credit card usually in the form of points, cash back, and travel. Limited purpose credit card is a card that can be used in specific location and have a minimum payments. Bussines credit card is a card that designed for business used. 

There have four requirements to make a credit card, such as age (you must more than 20 years old to apply for make a credit card); residency status ( you must become a permanent resident of the country to make a credit card); income (some credit card list the minimum income, you must compelete the requirements to make a credit card); and credit status (you must have good credit history to make a credit card). 

There have some tips to use credit card, such as don't spend more than your ability ( this means you must create a budget and make sure that your spending using the credit card doesn't exceed the budget amount); transfer balances when needed ( if you have much debt so you need to try to transfer to another card with low rate); use it for emergencies ( it means that you must used your credit card for emergencies situation); pay it off every month ( it means that a credit card holder must pay their debt per month because if the bills  is too much so they must take cash out of thier pockets and will also be fined).