Business Studies

Commercial banks introduced credit card facility in the early _______.


ANSWER

1980's


SOLUTION
The commercial banks introduced credit card facility in the early 1980's. A credit card is a card which is issued to the user or the cardholder by the bank to enable him to pay a seller for goods and services even if he does not have sufficient balance in his bank account.  A credit card holder needs to pay the amount withdrawn from the credit card along with some charges to the bank at the end of each month. It is a kind of credit facility extended by the banks to the customers.
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