Credit Cards- What is a Credit Card?


What is credit card? A question that adults already know the answer for but it is something which kids are not still familiar with and they might even fail to know the difference between it and a debit card. At some point, parents are faced with lots of different questions that their kids start shooting at them and during the journey of financial education, these questions are related to bank accounts, debit cards, credit cards, how to save money, etc. The information that the kid’s mind could get about credit cards and what they are is not that much but what they should understand is that credit cards are like the idea of borrowing money from the bank and this money should be paid back to the bank at the end of the month, which is not the same as debit cards that take directly from the money that the person owns in his/her personal account.