Credit cards

Step into the world of credit cards and learn how they can simplify your financial life. These payment tools provide a seamless way to shop, travel, and manage expenses while earning valuable rewards.

Credit cards

Step into the world of credit cards and learn how they can simplify your financial life. These payment tools provide a seamless way to shop, travel, and manage expenses while earning valuable rewards.


- Advertisement -

Key Terms

Credit Card

A plastic card issued by a financial institution, allowing cardholders to borrow funds to pay for goods and services.


Credit Limit

The maximum amount a cardholder can borrow using their credit card.


Annual Percentage Rate (APR)

The yearly interest rate charged on outstanding credit card balances.



The amount of money owed on the credit card.



A monthly report from the credit card issuer detailing the cardholder's transactions, outstanding balance, and other relevant information.


Credit Score

A numerical representation of a person's creditworthiness based on their credit history.


Card Verification Value (CVV)

A 3 or 4-digit number on the credit card that's required for online and over-the-phone transactions to ensure the card is on hand.



A security code used with credit and debit card transactions.


Co-branded Card

A credit card that is issued in partnership between a credit card company and a retailer or other business, often offering specific rewards or perks related to the business.


Annual Fee

A yearly charge by a credit card company for the use of its credit card.


Explore Credit cards

- Advertisement -

Frequently Asked Questions

1. What is a credit card?
A credit card is a payment card that allows you to borrow funds from a financial institution up to a certain credit limit, enabling you to make purchases and pay them off later, either in full or through monthly installments.
2. How do I apply for a credit card?
To apply for a credit card, you typically need to fill out an application with your personal information, income details, and employment information. You may also need to provide supporting documents and undergo a credit check.
3. What is the difference between a credit card and a debit card?
While both are payment cards, a credit card allows you to borrow money from a bank to make purchases, whereas a debit card deducts funds directly from your bank account, utilizing your existing funds.
4. How does a credit card interest work?
Credit card interest is the cost of borrowing money. If you carry a balance on your card by not paying the full amount due, interest will be charged on the outstanding balance. The interest rate, expressed as an annual percentage rate (APR), determines the cost of borrowing.
5. What is a credit limit?
A credit limit is the maximum amount of money that you can borrow on your credit card. It is determined by the credit card issuer based on factors such as your creditworthiness, income, and credit history.
6. How does the credit card billing cycle work?
The billing cycle is a period, usually 30 days, during which your credit card transactions are recorded. At the end of the cycle, a statement is generated, detailing your purchases, payments, and any finance charges. You are then given a grace period to pay the outstanding balance.
7. What are credit card rewards?
Credit card rewards are incentives offered by issuers for using their cards. These rewards can come in the form of cashback, travel points, airline miles, or other benefits. They are typically earned based on the amount you spend using the credit card.
8. How can I improve my credit score with a credit card?
Using a credit card responsibly can help improve your credit score. Make payments on time, keep your credit utilization ratio low (using a small portion of your available credit), and maintain a good payment history to positively impact your credit score.
9. What should I do if my credit card is lost or stolen?
If your credit card is lost or stolen, contact your credit card issuer immediately to report it. They will typically freeze your account, investigate any fraudulent charges, and issue you a new card.
10. Are there any fees associated with credit cards?
Yes, credit cards often have fees such as an annual fee, late payment fees, balance transfer fees, and cash advance fees. It’s important to carefully read the terms and conditions of your credit card to understand the fees associated with it.

Leave us a message