How to use a credit card for short term loans?
Using a credit card has its benefits, but if you don’t use it in the right way, then you can end up in trouble. With the right approach, you can build a good credit history and get a bonus as well. So, how does it work? Having a credit card is like having extra money in your wallet, and it allows you to take short term loans as well. When you use your credit card to make transactions or payments, then technically, you are using the company’s money. You can pay back later to the company with or without interest, depending on the card and plan you have selected. Your credit card provider offers a credit limit as well that you can use to buy things. This limit will be decided on your account history, credit score, and income. As you make the payments, you will be able to use the available credit card again. You will get credit card statements every month that covers all the activities, minimum payments, balance, and due date. The credit card statement also includes: ·