A credit card is a thin rectangular piece of plastic or metal issued by financial institutions, which lets you borrow funds from a pre-approved limit to pay for your purchases. The limit is decided by the institution issuing the card based on your credit score and history. Generally, a higher credit score and better credit history get you a higher limit. The key difference between a credit card and a debit card is that when you swipe a debit card, the money gets deducted from your bank account, whereas with a credit card, the money is taken from your pre-approved limit.
Users can swipe their credit cards to make payments or use them for online transactions. After you apply for a credit card, make sure that the borrowed amount is repaid within the stipulated time frame to avoid penalty charges. Your credit card details are always secure with the card issuer. You should not share your credit card information with anyone to avoid fraud.
Bajaj Finserv offers different types of credit cards to suit your diverse needs. The Bajaj Finserv RBL Bank Credit Card has great offers and benefits to make shopping a rewarding experience for you.