India is one of the fastest growing economies in the third world.  The traditional method of commercial transactions is being replaced rapidly with the modern modes.  The immense development of information technology in the country, one of the best in the world, has prompted people to discard the old fashioned cash and check transactions in favor of credit cards, debit cards and electronic funds transfer.  

Credit card is based on the concept of providing credit up to a permissible limit as per the contract between the dealer and the customer.  The customer uses the credit card for his or her transactions and the provider which ordinarily is a bank of financial institution agrees to pay for the customer the amount.  The customer pays back the amount to the provider at a later date. The days of credit you get in India ranges from 20 to 50 days on average.  You can repay the amount due in one go or installments.  Since it is all about carrying a small plastic card with your name and card number embedded on it you will find credit card usage on the increase in india.

With the advent of these modern technologies, the scenario of Financial India has undergone a complete change.  Credit cards are easy to carry and handle and it also provides for you several facilities like discounts and in form of prizes.  That is why its popularity is growing day by day.