Most credit cards are open lines of credit that you can use to
make purchases. You can borrow up to your credit limit and repay
at the pace you choose. Card issuers charge you interest on any
unpaid balance after the grace period (typically, 20-25 days). In
addition to lending you money, some credit cards offer other benefits
such as travel insurance, auto collision coverage, airline miles,
shopping rewards, extensions of manufacturer warranty for certain
products, and so on.