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How it Works Credit Cards

Credit card is the type of loan most frequently asked questions and used those. Credit cards are one tool in managing finances that gives you easy if managed properly. Know and understand the terms and conditions apply. If you already know how it works, and you can control your finances well.

Credit Limit

If your credit card application is approved, the credit card issuer will determine the credit limit of your card. Credit limit is the maximum amount that you can use in dealing with the use of the card. Each credit card issuers have different policies in determining the credit limit on each credit card issued.

The things that affect the determination of credit limits, among others:

- Monthly Income
- Current loans (other than credit cards, car loans, etc.)
- Long live the current address
- Ownership of house
- The number of credit card application ever done
- The number of credits required

You can request your credit card issuer to raise the credit limit of your card. The decision to raise credit limit depends on your financial situation as a whole. You may be able to get a credit limit higher if the percentage use of the available credit limit you need a credit showed a higher limit, always pay on time, revenue increases, and / or you always pay more than the minimum payment or pay the full bill.

Interest (Interest)

Interest will be charged if the cardholder does not make payment in full prior to maturity for the current month bill.


There are several ways to calculate interest, generally using the methods below:

Daily balance average

Many credit card companies use this method. Credit card issuer you add up the entire balance every day during the billing period, and dividing by the number of days of the billing period. Then, multiplied by the prevailing interest rate.
To learn how to use the calculation of interest on your credit card issuer, you can see the simulation calculation of bank interest through the website your credit card issuer.