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What is a Credit Card?

A credit card is a simple yet no-ordinary card that allows the owner to make purchases without bringing out any amount of cash. Instead, by using a credit card, the owner borrows funds from the issuing company, which is often a bank, to make purchases whether online or onsite.

In exchange for the credit, the card owner has to return the full amount borrowed within a given period of time to avoid incurring additional charges. Beyond that time, a percentage of the owed balance amount, interest, needs to be paid, along with the owed balance amount.

Credit Card vs. Debit Card

Both a credit card and the debit card are useful tools that give the owners the power to make purchases without taking out some physical bills from their wallets. The two cards also require the signature of the cardholders when making transactions.

Moreover, debit cards can be used to buy at some merchants where credit cards cannot be used. However, there are differences between these two cards, and the most obvious is the source of the funds used for the purchases.

A credit card uses funds from the bank that is verified using the owner’s credit line. When applying for a card, identification is made in order to create an account with the credit card holder’s name. Meanwhile, the debit card takes the money straight from the card owner’s bank account.

A credit card holder receives a statement of account each month, detailing the purchases or cash advance loans made on the card. The debit card holder does not receive any billing statement because the money used for making purchases was already taken at the time of purchase from his or her bank account.

A credit card can incur charges, especially if the amount borrowed is not returned in full within the given grace period. The debit card does not charge any fee because the purchases are paid in real-time through the owner’s bank account.

Types of Credit Cards

There are numerous types of credit cards that are available for use. However, we will stick to the five most commonly used types.

Regular credit cards

Regular credit cards are the simplest type of credit card. They don’t offer perks and rewards. They are ideal for parents who want to provide their children with the convenience of using a credit card.

One benefit of regular credit cards that they have a predetermined credit limit, which allows the user to control their use of the card. Once the purchases have reached the limit, no further purchases can be made, and they will need to make payments first in order to open up the card again.

Balance transfer credit cards

This type of card is an option offered to those who have a balance on existing cards. The debt is paid off with the new card and the owner pays the debt to the new card at ideally lower interest rates.

Student credit cards

A student credit card is specifically designed for individuals who need a credit card but do not have a credit history yet. It requires a higher approval rating compared to standard or regular cards.

Charge cards

Charge cards are beneficial in the sense that they do not charge interest or fees simply because the balance needs to be paid in full at the end of every month. However, in the event of a failed payment, charges are made, or the card may be revoked, depending on the terms and conditions set by the financial company.

Subprime credit cards

This type of card is considered to be among the worst and most scheming type of cards, as it targets individuals with a bad credit history. Its fees are exorbitant, but people still use them because of the lack of choices and opportunities to open a credit line elsewhere.

Even if there are already federal laws regulating the fees subprime credit cards can charge, they seem to find ways and loopholes that let them continue their scheme.

Best Card to Use

People with credit cards will agree about how easy it is to make purchases with it. In fact, it is so much easier than using a debit card. However, between the two, using a debit card is still better and safer because of the fact that it charges no interest and the user will never go beyond his means.

Meanwhile, below are several instances when using the credit card over the debit card is better:

Renting a hotel room

The credit card is a better option here because it also allows the hotel to charge further any room service or food ordered by the cardholder.

Rewards

There are many credit cards that offer rewards such as travel incentives or free miles and cash-back rewards.

Cash-less transactions anywhere

When traveling, it is not only inconvenient but also unsafe to bring cash everywhere. Using a card is less bulky as travelers don’t need to bring bills around.

Emergency payments

Making unplanned payments is perhaps the best part of owning a credit card – having the power to make emergency payments even in the absence of cash. One example is an accident or a trip to the emergency room.

Attorney vs Lawyer: Definition and Fundamental Differences

There are many fulfilling and challenging career paths within the legal industry. Two common paths in this field are that of an attorney and a lawyer. Though they share some similarities, there are several differences between these two careers. In this article, we will discuss the differences between an attorney and a lawyer and provide information about additional legal professions you may be interested in pursuing.

Attorney vs. lawyer

The major difference between the duties and responsibilities of a lawyer and an advocate is that a lawyer is usually less experienced and may not necessarily represent clients in court. Comparatively, advocates are highly experienced and capable of representing their clients in courts. A lawyer may research cases and give advice to clients on legal matters. Advocates have the additional qualification of passing the AIBE, and hence, lend their service to clients at every stage of a legal process.

Even though ‘lawyer' is a general term used to refer to a number of job roles in the legal sector, there are subtle differences between specific legal roles that a lawyer can perform. The key distinction between a lawyer and an advocate is the way they use their education. An attorney has taken and passed the bar exam, which means that they personally represent clients in courts and liaise with members of the judiciary. Lawyers who have not passed the bar exam can only assume an advisory role to their clients.

What is an attorney?

The word attorney is not widely used in the country. It is usually used only to refer to the Attorney-General of India or to refer to a legal clause called the Power of Attorney. In our country, these professionals may be called advocates. An advocate is a law professional who can assist, defend or plead for another individual in a court of law, tribunal or in front of a counsellor. They are also required to pass the AIBE (All India Bar Examination). After passing the exam, they are eligible to represent clients in courts.

Advocates are generally much more experienced than lawyers. Because of their experience and advanced knowledge in legal matters, they may be involved in representing and advising clients. They try their best to bring about a favourable outcome for their clients. Additional duties of an attorney include interpreting laws, applying their knowledge of the law to meet the needs of their clients and keeping careful records that outline their interactions with clients, legal professionals and other invested parties.

What is a lawyer?

The title ‘lawyer' is more widely used, as compared to the title ‘attorney'. It refers to a person learned in law or licensed to practice law. It is an umbrella term which covers anybody who pursues or practices law. If a person has just completed their legal studies, they can also be called a lawyer. Many other titles like solicitor, barrister and attorneys come under the general term lawyer. All of these roles are considered to be specialists in their respective fields.

Lawyers have generally less experience as compared to advocates or solicitors. They may be yet to gain the necessary experience to specialise in specific areas of law. They can give legal advice to their clients, but may not be able to represent clients in court. A lawyer can advance into higher positions with experience, upon which their earning potential may also increase.

What are the qualifications required to become a lawyer?

The basic qualification to become a lawyer is an LLB degree. LLB is a 3-year undergraduate program. Candidates who have cleared the 12th standard board exam with a minimum of 50% aggregate marks are eligible to pursue an undergraduate degree from a recognised university. Prominent colleges offering LLB degrees include the National Law School of India University, National Law University, Delhi University Faculty of Law and National University of Advanced Legal Studies.

There are a number of entrance exams for admission into colleges offering LLB courses. The most important entrance exams are CLAT (Common Law Admission Test), AILET (All India Law Entrance Test), LSAT (Law School Admission Test) and DUET (Delhi University Entrance Test). An LLB program covers subjects like criminal law, family law, cyber law and corporate law. Lawyers are needed in a wide variety of institutions in both government and private sector. Individuals, non-profit organisations, multinational companies, government agencies and judicial bodies hire lawyers for assistance with legal procedures and cases.

Types of Lawyers

Whatever your legal problem, there’s likely an attorney who specializes in dealing specifically with your particular legal issue.

If you’ve been trying to find a lawyer to help you solve your specific legal problem, you’ve probably realized there are many different types of lawyers. The legal field is vast and complex, and you’ll find that many lawyers specialize in a particular area of law.

If you find yourself in need of a lawyer, make sure they have the expertise to handle your unique situation.

Personal Injury Lawyer

If you’ve suffered injuries in an accident—for example, a car accident—the type of lawyer you’ll want to see is a personal injury lawyer. These types of attorneys specialize in obtaining compensation in the form of damages for injuries caused by other parties.

Estate Planning Lawyer

The estate planning lawyer specializes in wills and trusts, and can help you to draw up a will to pass on your assets. Among other estate planning legal services, this type of lawyer can help you set up a trust which will help take care of your children’s financial needs.

Bankruptcy Lawyer

If you’re having financial difficulties and are contemplating bankruptcy proceedings, you’ll want to consult with a bankruptcy attorney. This type of lawyer can advise you on your eligibility for bankruptcy, the types of bankruptcy you’ll want to consider and which type would be best for your particular circumstances, as well as any potential alternatives to bankruptcy which you may want to explore.

Intellectual Property Lawyer

Also known as an IP attorney, an intellectual property lawyer can advise you with regard to issues relating to intellectual property, such as copyrights, trademarks, patents, industrial design and trade secrets.

Employment Lawyer

Whether you’re a company that’s having a problem with an employee, or an individual who’s having problems with the company you work for, an employment lawyer can generally provide advice about legal issues which arise from an employment contract or within an employment relationship.

Corporate Lawyer

If you own a corporation, you’ll likely find yourself consulting with a corporate attorney on many different occasions. A corporate lawyer will be able to help you with issues related to the formation of your corporation, general corporate governance issues and corporate compliance issues.

Immigration Lawyer

When you’re dealing with immigration issues, you’ll want to consult with an immigration lawyer. This type of lawyer should be well versed in dealing with immigration issues such as visas, citizenship, refugee or asylum and green cards.

Criminal Lawyer

If you or a loved one has been charged with a crime, a criminal lawyer is the type of lawyer you should turn to. A criminal lawyer will be knowledgeable in areas related to criminal law, including issues related to bail, arraignment, arrest, pleas and any issues relating to the criminal trial itself.

Medical Malpractice Lawyer

Doctors do occasionally make mistakes, and if you’re facing the consequences of a medical mistake such as a medical misdiagnosis or inaccurate treatment, a lawyer who specializes in medical malpractice issues can be particular helpful.

Tax Lawyer

Getting into trouble with the IRS is no fun. A tax attorney specializes in the many intricacies of federal, state and local tax laws, and should be able to provide advice on the particular tax issue you face.

Family Lawyer

Whether you’re in need of a prenuptial agreement, engaged in divorce proceedings or involved in a child custody or spousal support battle, a family lawyer is the type of lawyer who’ll be best equipped to guide you through the process which lies before you.

Worker's Compensation Lawyer

If you’ve been injured while on the job, or have had to face the death of a loved one as a result of a workplace accident or occupational disease, a lawyer who specializes in workers compensation law can help you navigate the issues you face, such as the extent of the employer’s fault and the amount of benefits to which you are entitled.

Contract Lawyer

A contract lawyer specializes in the handling of issues arising from contracts, and can be consulted for a wide range of contract-related issues. Whether you’re unsure if you should sign a particular contract, or if something has gone wrong with a contract you’ve already signed, an attorney who specializes in contracts is the type of lawyer who should have the experience and expertise required to help you resolve your contractual issues.

Social Security Disability Lawyer

The Social Security Disability system can be a particularly complex system in which to navigate. An attorney who specializes in Social Security Disability issues can help you with any step in the Social Security Disability process, including assisting you with eligibility issues, launching an appeal of a decision to deny you benefits and dealing with the reduction or termination of your benefits.

Civil Litigation Lawyer

Suing someone, or responding to someone’s lawsuit against you? An attorney who specializes in civil litigation will be your best legal option. You may also find that different attorneys will specialize in different litigation areas as well. For example, a corporate litigation lawyer should have the expertise to help you with commercial litigation issues.

General Practice Lawyer

Unlike lawyers who specialize in a particular area of law, a general practice lawyer has a practice that handles a wide range of legal issues. Different general practice attorneys will have different areas of law with which they are most comfortable, so if you consult with a general practice lawyer, it’s always prudent to discuss his or her experience in handling the type of legal issue you’re facing.

There are many different types of lawyers available in the legal marketplace today. When you're looking for legal help to deal with an issue you're facing, it's a good idea to find a lawyer who is experienced in the specific area of law with which you're dealing.

What is software

Software is a set of instructions, data or programs used to operate computers and execute specific tasks. It is the opposite of hardware, which describes the physical aspects of a computer. Software is a generic term used to refer to applications, scripts and programs that run on a device. It can be thought of as the variable part of a computer, while hardware is the invariable part.

The two main categories of software are application software and system software. An application is software that fulfills a specific need or performs tasks. System software is designed to run a computer's hardware and provides a platform for applications to run on top of.

Other types of software include programming software, which provides the programming tools software developers need; middleware, which sits between system software and applications; and driver software, which operates computer devices and peripherals.

Early software was written for specific computers and sold with the hardware it ran on. In the 1980s, software began to be sold on floppy disks, and later on CDs and DVDs. Today, most software is purchased and directly downloaded over the internet. Software can be found on vendor websites or application service provider websites.

types of software

Among the various categories of software, the most common types include the following:

Application software.

The most common type of software, application software is a computer software package that performs a specific function for a user, or in some cases, for another application. An application can be self-contained, or it can be a group of programs that run the application for the user. Examples of modern applications include office suites, graphics software, databases and database management programs, web browsers, word processors, software development tools, image editors and communication platforms.

System software.

These software programs are designed to run a computer's application programs and hardware. System software coordinates the activities and functions of the hardware and software. In addition, it controls the operations of the computer hardware and provides an environment or platform for all the other types of software to work in. The OS is the best example of system software; it manages all the other computer programs. Other examples of system software include the firmware, computer language translators and system utilities.

Driver software.

Also known as device drivers, this software is often considered a type of system software. Device drivers control the devices and peripherals connected to a computer, enabling them to perform their specific tasks. Every device that is connected to a computer needs at least one device driver to function. Examples include software that comes with any nonstandard hardware, including special game controllers, as well as the software that enables standard hardware, such as USB storage devices, keyboards, headphones and printers.

Middleware.

The term middleware describes software that mediates between application and system software or between two different kinds of application software. For example, middleware enables Microsoft Windows to talk to Excel and Word. It is also used to send a remote work request from an application in a computer that has one kind of OS, to an application in a computer with a different OS. It also enables newer applications to work with legacy ones.

Programming software.

Computer programmers use programming software to write code. Programming software and programming tools enable developers to develop, write, test and debug other software programs. Examples of programming software include assemblers, compilers, debuggers and interpreters.