What is Credit Cards ?

Credit cards, usually issued by banks, are granted to persons for borrowing money, or buying products and services, but allowing delayed payment. Put simply, credit cards are "buy now, pay later". Some of the more widely known card names include MasterCard, Visa, American Express, and Great Wall? Credit cards are not to be confused with "charge cards", such as department store cards, which require full payment of the balance before the end of the billing period. It is not a line of credit and no interest is charged. It has been estimated that there are approximately 500 million credit cards in use worldwide, which confirms the popularity of this form of consumer credit.