What Is Credit Card

A credit card is financial instrument issued by banks with a pre-set credit limit.

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helping you make cashless transactions. The card issuer determines

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the credit limit based on your credit score credit history and your income.

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Once you the credit card bill, you can repay the amount you have spent

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within a certain repayment period any interest.

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After this grace period, interest is applied on your balance.

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The key difference between a credit caard and a debit card is that money gets deducated from your bank account

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when you swip a debit card. In the case of a credit card, the money is taken from your credit limit.

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You can swipe a credit card to make a payment online ar offline for almost all products and services.

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After you apply for credit card and begin to use it, make sure that the amount you have borrowed or utilised is repaid

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within the stipulated time frame to avoid penalty charges. Your credit card details are stored securely with the issuer.

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To avoid fraud, don't share your credit card information with anyone.

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10 Things To Know About New Credit Card Rules

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