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Cash Back Credit Card
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Earn Money While you Spend:
Since the number of earning persons is increasing day by day, the demand for the credit cards has increased considerably. It is just because of the advantages they enjoy by having credit cards. It is very safe to carry a credit card than carrying the cash. If a person spends money through his credit card, the amount would be reasonable. There would not be any additional expenditure further. At present, almost all the employees of reputed concerns get their salary through banks only. In many ways, it is an advantageous one. They know exactly what they spend and they would be spending money only for the reasonable purposes.
For executives of the companies, the company itself provides the Gold Master Card for their companys official purpose. Of course, the executives are also allowed to use the card for their personal use. Since everyone is feeling that it is better to use the credit cards than cash, the flow of the money is more. In fact, it develops the economical condition of the country indirectly. The world is going rich daily. The number of persons applying for the credit cards is increasing every minute. Daily thousands of people are applying for credit cards. They know the importance of having credit cards. The demand for the credit card is very high. That is the main reason many banks have started to issue credit cards many customers. Previously only a few banks were dealing with the credit cards. Frankly speaking, there is a healthy competition going on. So they are forced to provide many additional facilities apart from their regular service to their customers. Other wise, it would not be possible for them to do business in the competitive business field. There are some banks which have reduced the rate of interest towards the loan amount. Even other financial companies are also trying to enter this credit card business field, though it would take some time from now. There are banks which do not charge interest at all, if the amount is paid within the stipulated time. They have revised the service charges also. All the banks are working with heavy competition in this credit cards sales business field. Some banks have gone beyond these concessions. There are banks which have announced cash back credit cards to their card holders. It is a difficult job. They have to forego their profit. But, there is no other go for them. The customers should be attracted by the concessions given to them along with the advantages they are enjoying for using the credit cards. This is the motive of the banks. Now credit cards are available with cash back system. We would be wondering how they could manage with this system. It is possible. As long as you do not pay the principle amount to the bank, they would be glad. They are more interested only in collecting the interest and a small part of the loan amount. If you pay the entire amount, they would not be pleased. Even if you want to pay the whole credit limit amount, they would persuade you to pay only a part of the loan and the service charges. If you pay the entire loan amount, they would lend you the money back to you, perhaps more than you have paid. In other ways, they banks also think that the repayment method should be very simple and easy for the customers.
The people working with the banks, the persons working for the banks are so intelligent that they know very well about the needy hours. For example, during the festive season, people would need a lot of money for their shopping and for other purposes. They buy all the materials they need to celebrate the festival. Christmas is celebrated all over the world. This is the most important period for the banks to work hard for their business. When you are issued with the money back cards, you would be very much pleased to avail this, since you are already in need of money. Cash back cards are attracted by the customers very much than the regular cards. When you shop with the cash back cards, in the beginning itself you would get five to ten percent of the amount you spend, which is an additional income to you. If you shop for thousand dollars, immediately you would get about hundred dollars, which is a good amount. Not only this; but you also get back some amount after certain time. Really it is a very good idea. This is possible, because of the following facts. For example, to day you are buying articles for thousand dollars and paying the amount immediately. If the seller deposits the thousand dollars in the fixed deposit in a high interest yielding bank, after five to six years, the money would be doubled. That is, he would get two thousand dollars. If he keeps the articles in his shop itself, it would not fetch him any profit. Further, he would be at loss, since the investment is stagnated with him. So, the banks calculate in this way and they are sharing the profit which belongs to them with their customers. But, as for as the customers are concerned, they enjoy more when they have cash back credit cards. If the banks do not offer these concessions to their clients, it would be an uphill task for them to run their credit card business. In fact, they are in the competition with each other. Just because of this healthy competition, the cash back credit card holders enjoy themselves to the core. The banks are giving this much concessions, offers and privileges only hoping that their customers would repay the loan amount promptly. We should remember that it is our bounden duty to repay the amount regularly without any notice from the bank. While enjoying all the advantages of this cash back credit cards, we should have a soft corner towards the bankers.
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