Credit card meaning: What is Credit Card

What is Credit Card ? Learn about credit cards , how they work, benefits, and responsible usage. Understand credit card and how it works with ICICI Bank Blogs. A credit card is a plastic or metal card that allows you to make purchases in person, over the phone or online. You might also be able to pay with your credit card by using a digital wallet or virtual card numbers. Because you can borrow and pay money back continuously, credit cards are a form of revolving credit . [2] A regular credit card differs from a charge card, which requires the balance to be repaid in full each month, or at the end of each statement cycle. [3] In contrast, credit cards allow consumers to build a continuing balance of debt, subject to interest being charged at a specific rate. What is Credit Cards ? Credit Cards is defined as a card which can be used to obtain cash, goods or services up to a stipulated credit limit. The supplier is later paid by the credit card company which in due course is reimbursed by the credit card holder who will be charged interest at the end of the credit period if money is still owing. A credit card is basically a plastic card with a magnetic strip invented with the intention to simplify the complicated banking process for an individual ...