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  Category: Articles » Finance » Credit » Article

Credit Card Advantages

By Devin Gilliland

Payment through credit cards seems to be one of the best payment methods, especially for those shopping on the web. It looks like more than 60% of businesses are turning on web-based services geared towards credit card payments, highlighting the growth of credit card payment in recent years.

The old practice – to pay the bills in cash or check as they arise is almost now wholly abandoned. Serious studies are showing that credit card payment is an advantage not only for individuals, but for companies too. The payments for invoices under the level of $3000 are bringing important saving to companies of all sizes across industries.

Any cardholder can enjoy the power to purchase instantly, having the flexibility to buy and pay after 6 months, without interest to pay. And the credit card is faster to use. Credit cards are the ideal answer to our need for speed: 15 seconds for a contact less transaction; 25 seconds for the magnetic strip transaction; 34 seconds for cash transaction.

The use the contact less transactions must use very secure data transmission standards. The highly secured transmissions are using the best encryptions standards. Triple DES and 128-bit encryption are making almost impossible data stealing. RFID is Radio Frequency Identification. This acronym refers to some small electronic products containing a chip and a special antenna. Mainly, the RFID serves the same goal as the magnetic strip on the credit card or a bar code. It must be scanned to have the information. The PFID chip is creating a unique number used for the transaction. If a cracker intercepts this number, it is useless for him, even if he manages to decrypt it.

There are many other ways to make the online transactions more secure. The use of some special signal or the dedicated set of frequencies is making a thief's job more difficult. The contacts less credit card payments are a major advantage for the merchants too. In a 2006 study, the average spend is greater than 15% for all contact less credit card owners. The correlation between the total spending and ease of use seems to be stronger than ever.

When someone wants a credit card, he needs to find the main issuer advantages:
- if there are annual fees or balance transfer fees
- if there is an extra protection against thieves of any kind
- if there is an optional protection for the credit card payments
- if there is an optional protection against theft of the credit card or loss
- if there are high class online service.

The cardholder must never forget how useful it can be in emergency situations, when they have to spend outside their budget. A flood, fire or car crash may lead to some important purchase, and the credit card can be the handiest way in a emergency.
About the Author
This article is written by Devin Gilliland publisher for credit-wisdom and

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  Some other articles by Devin Gilliland
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