Credit Card is the hybrid creature of the two bank products - plastic card and consumer loan. This is bank product allowing the customers to purchase item or service, including via internet and/or withdraw cash from the ATM.
Credit limit or maximum amount of loan, is verified individually, based on the credit history and income of the customer.
Credit limit can be increased. Customer can consume money at any time and period, under the given limit. Correspondingly, credit card has no standard schedule of coverage. Most of the credit cards have privileged period, whereas interest rate is not accrued on consumed sum in case of full coverage. If the costumer failed to cover the consumed sum during the privileged period, customer is obliged to cover specific part of the consumed sum at the end of the contractual period. It should be considered that commission rate for cash withdrawal is very high, so it is recommended to use the credit card via POS terminals at shopping centers.