Credit card is a type of payment card and it is a loan product that offers the possibility of deferred payment. A credit card is tied to the credit account (not a bank account), which is not usually necessary to exhaust all. Finances are drawn as needed. Ther is usually a defined grace period, if the loan is repaid during it, the customer pays no interest. The minimum monthly payment may also be defined as a percentage of the loan that must be paid. The rest of the loan can be paid off later, and is interest-bearing.
How works a credit card and how is it used in practice?
Credit cards are used to pay for goods and services, and are used by enterprises and individuals. Advantage of the credit card is that when using it, it is possible to get a loan for anything and without collateral.