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What rate of commission is charged by the bank issuing the credit card :
- a)1% to 3%
- b)3% to 6%
- c)2% to 5%
- d)1% to 4%
Correct answer is option 'D'. Can you explain this answer?
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What rate of commission is charged by the bank issuing the credit card...
Commission charged by the Bank Issuing Credit Card
The rate of commission charged by the bank issuing the credit card is an important factor to consider while choosing a credit card. The correct answer is option 'D' which states that the rate of commission charged by the bank issuing the credit card is between 1% to 4%.
Factors affecting the commission rate:
There are several factors that affect the commission rate charged by the bank. Some of the important factors include:
1. Credit Limit: The commission rate charged by the bank is directly proportional to the credit limit offered to the customer. Higher the credit limit, higher is the commission rate charged by the bank.
2. Credit Score: The credit score of the customer is an important factor that determines the commission rate charged by the bank. If the credit score of the customer is good, then the commission rate charged by the bank will be lower.
3. Type of Card: The commission rate charged by the bank varies depending on the type of credit card. For example, the commission rate charged for a premium credit card is higher than the commission rate charged for a regular credit card.
4. Rewards and Benefits: The commission rate charged by the bank is also influenced by the rewards and benefits offered by the credit card. If the credit card offers more rewards and benefits, then the commission rate charged by the bank will be higher.
Conclusion:
In conclusion, the rate of commission charged by the bank issuing the credit card is an important factor to consider while choosing a credit card. The commission rate varies depending on several factors such as credit limit, credit score, type of card, and rewards and benefits offered. It is advisable to compare the commission rates of different credit cards before choosing one that suits your needs.
The rate of commission charged by the bank issuing the credit card is an important factor to consider while choosing a credit card. The correct answer is option 'D' which states that the rate of commission charged by the bank issuing the credit card is between 1% to 4%.
Factors affecting the commission rate:
There are several factors that affect the commission rate charged by the bank. Some of the important factors include:
1. Credit Limit: The commission rate charged by the bank is directly proportional to the credit limit offered to the customer. Higher the credit limit, higher is the commission rate charged by the bank.
2. Credit Score: The credit score of the customer is an important factor that determines the commission rate charged by the bank. If the credit score of the customer is good, then the commission rate charged by the bank will be lower.
3. Type of Card: The commission rate charged by the bank varies depending on the type of credit card. For example, the commission rate charged for a premium credit card is higher than the commission rate charged for a regular credit card.
4. Rewards and Benefits: The commission rate charged by the bank is also influenced by the rewards and benefits offered by the credit card. If the credit card offers more rewards and benefits, then the commission rate charged by the bank will be higher.
Conclusion:
In conclusion, the rate of commission charged by the bank issuing the credit card is an important factor to consider while choosing a credit card. The commission rate varies depending on several factors such as credit limit, credit score, type of card, and rewards and benefits offered. It is advisable to compare the commission rates of different credit cards before choosing one that suits your needs.
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What rate of commission is charged by the bank issuing the credit card...
The bank issuing the credit card, charges commission for each such transaction, which varies between 1% and 4% which is immediately debited to seller's bank account.
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What rate of commission is charged by the bank issuing the credit card :a)1% to 3%b)3% to 6%c)2% to 5%d)1% to 4%Correct answer is option 'D'. Can you explain this answer?
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