((A guiide for beginners)
Knowing the credit card types and how they function help you become a responsible consumer and understand their purpose, maximize benefits and avoid debts and financial ruin.
A credit card is the purchasing power of an individual, stored in plastic, metal, or digital card. It offers a revolving line of credit for making purchases.
Regardless of whether you slide the magnetic strip against the card reader, insert a chip-enabled card or go contactless, the card reader receives your information and sends it to the Merchant’s bank.