Features of Credit Card

1. Credit Card Features
Presented By,
ASEEM R
aseem128@gmail.com

2. FEATURES
OF
MODERN
CREDIT CARD
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3. Features of Modern Credit Card
Wide Coverage
•Bank credit is most widely used payment
device issued by bank
•It is based on system of revolving credit
•The credit cardholder can use card at
merchant establishments to buy goods and
services.
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4. Features of Modern Credit Card
• Technology dependent
The dependence on technology is inevitable to
keep the operating cost to the minimum.
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5. Features of Modern Credit Card
• Owner Identification
A credit card identifies its owner and the one who is
entitled to purchase goods and services without
the physical money and is eligible for credit from
merchant establishments.
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6. Features of Modern Credit Card
• Credit Limit
The issuer for the purpose of convenience and
security sets a credit limit for a cardholder and a
floor limit for a merchant establishment
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7. Features of Modern Credit Card
• It is convenient medium of exchange which
enables the cardholder to buy goods and
services without using money
• Bank bears the risk of default on the part of
the cardholder
• Credit card helps the holder to buy when and
pay he can, i.e., bank pays to the seller
immediately but collects from the card holder
from 30-45days
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8. Features of Modern Credit Card
• Credit card is a document of credit worthiness
and it minimizes the use of hand cash in the
day transaction
• Credit card is issued to people having a certain
minimal income.
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