How Do Credit Cards Work In Canada?
How Do Credit Cards Work In Canada? In Canada, people find it convenient to pay for goods and services through an extensively used payment method that is credit cards. Let’s understand what credit actually means. As the name suggests, whenever you make a payment through a credit card, you are not using your own money, on the other hand, you’re spending others money. The money that you’ve borrowed from a bank or other financial institution. We can also say it as a short-term loan for which you’ve to pay the interest along with the amount at a later date. Let’s understand what and how these credit cards work in detail. Everything You Want To Know About Credit Cards Here we describe how the companies work that issue these cards, how to use them, and how to close your account. How Do Credit Card Companies Work? If you’ve ever looked carefully at credit cards, you must have noticed a logo on it either Visa, American Express, and Mastercard. This is because the ...