If you want to know the most powerful tool the financial market has ever produced, then you get a single answer invariably from everyone, and that is credit card. No one can deny the usefulness and utilities of a credit card.
One thing is the, if you want to reap the full benefit of a credit card, then you have to use the credit card properly. Otherwise, you may have to face a credit crunch in the future.
According to an estimate, there are more than 45 millions of Americans are there, who are not eligible for the credit. Most of these populations are belong to minority groups and are young.
Most of them are also yet to avail the banking facility. They have a great appetite for the credit, but don’t know how to access the credit or how to build a credit history. Though they don’t have a credit history, most of the time banks and financial institutions shy away from providing credit to people belong to that group.
Having made its groundbreaking entry in United States between the wars, the ubiquitous credit card or plastic money has revolutionized the credit transactions. Its use as a currency compels the debtor to keep his word and in turn creates feelings of trust and honesty. But through the passage of time, faster and effortless transactions are desired for speedy completion of tasks.
Add to that the fact that only