What is a credit card?
A credit card allows you to borrow money from a bank to make purchases. As long as you pay back the money you borrow within the interest-free period (usually between 45 and 55 days), you don’t have to pay any extra. If you don’t pay back the money within that time, interest will accrue. Besides offering greater spending power and financial flexibility, some credit cards also let you earn points on your spend - points you can then use to redeem for rewards, like flights, hotels and other products.