Personal vs Technology

Nowadays, obtaining credit cards is a piece of cake. Banks and financial institutions are in battle for winning as many customers they can have. Why they like to give credit card? The answer is quite simple, because credit card’s interest rate is high and compounded. Thus, banks will gain lot of profit from any bills and installment made by customer.

Imagine if a bank gives you 1 percent interest per month. The actual interest per year is not 12 percent, but more than that! How can that be? The previous interest amount needs to be included into calculation since it is compound interest. As result, the interest amount is getting higher day by day.

As customer, we should seek much information about each credit cards product. Don’t be fooled by sweet promise. Read every term and condition carefully. If it is not yet enough, try another way. Go to credit card review portal. They review every credit card available and publish the result for our need. They also give rating for all cards once they are finish to be reviewed.

As a plus, they also give you information about promotion held by the card. For example, we may get cash back for buying certain product at supermarket. Also we can get more mileage when reserving plane ticket using certain credit cards.