Benchmark Lending

In today’s world, credit cards have become the common means which are used to buy products and avail services with out actually transacting money. It can be explained as a deal between the bank and the user of using the bank’s money for purchases and paying them later. The financial institutions that offer credit cards usually set a dead line for the users to repay the money to them and also charge an extra fees called as the interest rates to the credit they offer to the users. There are many advantages of using credit cards. One main advantage is that the users need not carry money for the purchases and can be safe without the tension of handling money in hand. They can also purchase when and as they require. Credit cards are also easy to carry and the simplest tool for money. The credit that the users avail can be paid in installments and that benefit the users from paying the whole amount for the product. There are various types of credit cards available. They usually depend upon the agreement that the institution make with the users. They are the Installment agreement, Charge agreement and the revolving agreement.