Charge cards (or, as widely known, credit cards) are one of the most common and convenient instruments of payment. They can be used to carry out a variety of transactions such as cash withdrawal, payment for purchases at businesses, obtaining credit, forward transactions, standing orders, online or telephone payments, and transactions abroad, to name only a few. The purchase of a product or a service can be consummated in a few seconds from the moment the card is “swiped.”
While charge cards provide a relatively easy way of paying for goods and services, their use also comes with risks at both the consumer level and the criminal level (theft and fraud). This guide will give you important information about types of charge cards, how to use them correctly, and consumer arrangements that will protect you.