Also known as Plastic Money, a credit card is the most widely used instrument of credit. It is used mainly in transactions which involve purchases against payments in future.
These transactions are called transactions on credit. Today, thousands use these cards to acquire consumer goods and even services of hospitality. The credit card’s origins date back to more than half a century ago. It was initially a product of optimistic imagination of thinkers and writers but it became a reality firstly in the 30s and then in the 50s.
Since then, its incredible advantages have been of benefit to bankers as well as the working classes.
