INVESTIGATION ON PROBLEMS ENCOUNTERED, PROS AND CONS IN CREDIT CARD TRANSACTION

In the fast moving pace, technology has widened its place. Credit card has become an essential technology tool. Credit card security is a major concern for any business establishment. It has evidenced explosive growth in the number and value of transaction in recent years. THE development of plastic money is one of the recent Phenomenon's in the banking sector. Plastic money is a charge card. It is a direct charge against the limit sectioned. IT is a debt instrument issued by some specialized companies. It is one step forward towards cashless and chequeless society. This paper studies the problems encountered, advantages and disadvantages of using credit card. Recommendations are also given on safety use of credit card.