Provide a range of discounts, especially in specific shops’ products
Access to short-term credit, subject to the issuing bank's terms
The possibility of providing financial payment using any type of currency, thus providing the card holder ease of access and ability to use any and all currencies
Enhance The Card Holder’s Financial Security; where you do not need to carry large sums of cash with you
Types of credit cards are divided into several types, and each type is characterized by the nature of its own use, and the most important of these types are:
Also known as the discount card, you can pay the used amount from the limit of the credit card in a certain period of time without paying interest on the amount otherwise when you delay in repayment that will cause you interest on the amount and delaying fees so the payment will increase according to the interest and fees.
Billing cycles vary by card and issuing bank; your issuing bank will confirm your specific billing cycle. If you fail to have sufficient funds in your account, the interest rate begins here, and your re-payment amount increases with easy passing month.
This type of card allows repeated access to funds, up to an approved credit limit. When you use a portion of your revolving credit line, you reduce the amount of your available credit, and typically increase the minimum payment required.
So long as you have an outstanding balance, you continue to make payments as required that can vary in size based on the amount you owe plus interest charges. Furthermore, you have the option to pay off the card sooner by paying more than the minimum amount, or to pay off the loan entirely at any time.
There are several kinds for Credit Cards, All type for a card have its own feature and limits deferent from other type according to banks policies.
Card types, names, tiers and features vary by issuing bank and are determined solely by that bank.