When issuing a credit card, the bank approves a specific limit within which the client can make transactions with the card. It is allowed to pay for goods or services at retail outlets, online purchases and withdraw money from ATMs. Cash and non-cash transactions may have different interest rates.
For the vast majority of credit cards, a grace period is provided - a period of time within which no interest is charged, provided that the debt is returned in full.
Based on the conditions of a particular financial institution, a grace period may arise only for non-cash transactions or also apply to cash withdrawals. The interest-free period can be renewed with each new purchase or only in case of full repayment of the spent amount for the already opened one.
If the conditions of the grace period are not met, interest is charged on the amount spent for the actual number of days of using the borrowed funds. In addition, a minimum monthly payment must be paid. It is calculated in relation to the available debt and is usually 5% plus the interest due.
You should study more information in this area if you want to get a credit card. You can read more on this website