22 September 2022

Is a credit card the same as a revolving credit card?



No, they’re two separate things. If you have a credit card and you purchase something, you pay the financial entity the amount due the following month. And the debt is paid off.

If you have a revolving credit card, you pay back the borrowed amounts in several instalments
with high interest rates. As a result, your debt is dragged out over time.

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