How does the concept of a credit card work most of... - Limited/Bad/Fair Credit Questions

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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How does the concept of a credit card work most of the time?

How does the concept of a credit card work most of the time?

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In almost all major credit cards, an individual is given a certain credit limit to spend, The card issuer also gives the consumer a term referred to as the ‘grace period’ to be able to repay this amount spent without having to bear the burden of an interest rate. This grace period ranging anywhere from 20 to 40 days giving one enough time to repay the amount spent.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
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