“Bank Americard” is a financial institution

The interesting thing about this evolution is that credit cards have become more and more accessible to the masses after having been part of only the highest social strata, resulting in a huge increase in transactions worldwide, which will lead to to continue evolving during the following years. Some believe that the day will even come when debit and credit cards will make cash as we know it disappear.

Rating on credit cards

We cannot stop talking about the evolution of credit cards without first mentioning that they were also segmented according to their characteristics until creating a classification that depends on their nature or their final objective. Here are some of them:

According to its scope, there are:

• International credit cards with global acceptance regardless of the type of currency.

• Local credit cards limited to the currency and national territory.

According to the characteristics of the user:

• Conventional credit cards whose credit limits depend on the user's credit history, income and debt capacity. Their interest rates are usually high due to the type of income that users have and are designed to acquire low or medium price items.

• Business credit cards with better lines of credit and more competitive interest because they are focused on financing the current expenses of a business, not to mention that they form the much desired business credit history. In attendance are many facets to look at to know what credit card is needed to start a business , but the most prominent is the one that allows you to put a ceiling on expenses or that generate personalized reports to streamline the accounting of a business.

According to a specific segment:

• Premier or elite credit cards, the same as conventional ones but with better credit limits and access to exclusive benefits for the most important clients of a financial institution.

• Private credit cards that can only be used within a specific establishment, an example of them are departmental credit cards.

Regardless of which credit card you use, now you know the most relevant events that this plastic has had to go through so that today you can have one.

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