A credit card is a card which allows people to buy items without cash. When they buy something, a sales clerk uses it to charge the money needed to their bank account, so the person will pay later. They are buying it on credit, which is the trust that they will pay it back later.
If a person does not pay within a limit (usually a month) they will have to pay extra money, called interest. Payment using credit card is one of most common mode of electronic payment. Credit card is small plastic card with a unique number attached with an account. It has also a magnetic strip embedded in it which is used to read credit card via card readers. When a customer purchases a product via credit card, credit card issuer bank pays on behalf of the customer and customer has a certain time period after which he/she can pay the credit card bill. It is usually credit card monthly payment cycle