Credit Cards
Definition
Credit cards are a form of payment that allows individuals to borrow money from a financial institution to make purchases. The borrowed amount must be paid back, usually with interest, within a specified time period.
Related terms
Interest Rates: The cost of borrowing money or the return on investment for lending money.
Credit Limit: The maximum amount of money that can be borrowed using a credit card.
Minimum Payment: The smallest amount required each month to keep the credit card account in good standing.
"Credit Cards" appears in:
Subjects (1)
AP US History
Study guides (1)
AP Macroeconomics - 4.1 Financial Assets
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About Us
About Fiveable
Blog
Careers
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.