Business Services-2 — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-22 Marks
Question
Explain Credit Card.
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Answer
Bank carefully studies the account of the account holder or the applicant and decides how much amount he is capable to pay and issues the card of that much amount, which is called 'Credit Card'.
On the basis of this card the amount of which he has purchased is debited from his account and credited into the account of the seller.
The bank sends the details of account for the fixed period to the card holder and the amount showed is to be paid to the bank by the card holder.
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