Understanding Credit Cards: A Comprehensive Guide Scroll down for link Introduction Credit cards have become an integral part of modern financial transactions. They offer convenience, security, and various rewards, making them a preferred payment method for many individuals. However, understanding how credit cards work, their benefits, and potential pitfalls is essential for responsible usage. What is a Credit Card? A credit card is a financial tool issued by banks or financial institutions that allows users to borrow money up to a pre-approved credit limit. It enables cardholders to make purchases, pay bills, and even withdraw cash. Unlike debit cards, which deduct funds directly from a bank account, credit cards allow users to borrow money that must be repaid later, usually with interest if not paid in full by the due date. Types of Credit Cards There are several types of credit cards, each designed to meet different financ...