Cards are very convenient means of payment in our everyday life when we go shopping, at the supermarket, at the library and at any outlet that allows cards to be used. Two types of cards are frequently used-debit cards and credit cards. The number of debit cards in circulation is much higher than that of credit cards. However, the impact of Covid-19 and the recourse to online shopping has given a boost to credit card usage by the public.
A credit card is a card that allows you to borrow money against a line of credit, otherwise known as the card’s credit limit. You use the card to make basic transactions, which are then reflected on your bill.