When you use a credit card for any transaction, the merchant fee, on your behalf, is paid by the financial institution issuing you the card. You can make as many transactions as you want within your approved limit.
You get an account statement each month summarising the transaction details of your card.
The statement also highlights the following:
• Available limit
• Minimum payment due
• Payment due date
• Interest and fees charged
However, keep in mind that you need to pay back the amount utilised from your card within a stipulated period to your issuer, which is generally 30 days. If you fail to do so, your issuer levies an interest that keeps on compounding until the due payment remains outstanding.
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