top of page
Credit Card

Credit Card

A credit card is a physical card that can be used to make purchases, pay bills, or, depending on the card, withdraw cash. The simplest way to think of a credit card is as a type of short-term loan.

When you open a credit card account, your credit card company gives you a set credit limit. This is essentially an amount of money that the credit card company allows you to use to make purchases or pay bills. Your available credit is reduced as you charge things to the card. You then pay back what you spent from your credit limit to the credit card company.

bottom of page