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Posted by Felix Okoli on Saturday December 3, 2011 13:16:43:

Can credit cards be issued for free? Can a person really get a credit card for free?
Now this is a good question. If credit cards were indeed free, then a couple of things may make it possible

Features of a free credit card
- There would probably be no acquisition fees
- There would probably be no monthly payments
- It could be a gift card
- It would require a formal registration of the user

Can credit cards be really free?
In an ideal case, a credit card can really be only free if only the end user gets it as a gift card which is such that another person would bear the liability of the end user who gets to use the card. If a credit card would then be as free as a gift card, it would only be ideal to also be helpful if it only has limited funds.

A credit card is tied to an asset
When credit cards are issued, they are normally attached to a source of funds or future funds which would have to be paid sometime in the future. While most credit cards normally carry some interest, they are also credit cards that don't come with interest and the account holder is only liable to the amount of credit he has made use of. A credit card may be issued by a bank to a salary account holder, a mortgage investor or some other person who is seen as being able to settle bills.

Getting a credit card for cheap
Nowadays with the economic recession, banks are lowering their rates to help support borrowing and small businesses by issuing them affordable or cost effective credit cards. There are many categories of credit cards now and you may choose the one suitable to your profile whether as a student, start-up businesses or low income earner. In Nigeria, credit cards are available even for salary earners who want to save for their future homes and the fees are really low. In order to reduce your credit card costs, some of the things you can do are making timely repayments, using your funds wisely and doing a good appraisal of your investments.
Before acquiring a credit card, look at the repayment options, interest rates as well as the economic conditions

Summary
In summary, we can only say that credit cards may be issued for free to an extent as the liability attached to it would have to be limited to a degree. Credit cards cannot be entirely free or else it won't be called a credit card. It may only seem to be free if the end user is excluded from the liabilities attached to it but in reality someone has to pay the price.

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Comments:
Re: Free Credit Card Posted by Adebayo on Friday December 23, 2011 at 10:23:28:

hello pl z i don't understand the free credit card is it true free

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