Credit Cards

A credit card is a card from a bank that lets you buy things now and pay for them later, with added interest if you don't pay back what you borrowed on time.

It’s like borrowing a friend's bike. You get to ride it now, and you promise to return it later. Your friend trusts you, letting you use the bike without anything in exchange. But if you don't return it on time, they ask for a favour (fee and interest).

Credit cards let you spend the bank's money, but it’s important to pay off your credit card debt on time or there’ll be consequences like high interest.