A card allows you to borrow money for short periods of time from a lender when you need to make a purchase. Cards can be credit cards or charge cards:
Credit cards allow you to pay back the loan to the lender in instalments over several months. The lender charges interest for this service. The interest rate is a fixed percentage of the outstanding balance each month. The lender typically requires you to pay back a minimum of 5% of the outstanding amount each month. Visa and MasterCard are examples of credit cards.
Charge cards are also known as Travel & Expense cards. There is no interest payment on charge cards because you pay back the loan completely each month. Lenders charge an annual membership fee for using a charge card. American Express and Diners Club are examples of charge cards.
A card allows you to borrow money for short periods of time from a lender when you need to make a purchase. Cards can be credit cards or charge cards: 
