We use the credit card for just about any type of purchase that comes to mind.
The credit instrument that is packaged in a wallet sized, plastic laminate has facilitated billions of sales and purchase transactions in both online and brick and mortar stores worldwide. In the United States alone, total revolving credit card debt is at $864 billion. Moreover, it is one of the top sources of indebtedness for US consumers, next to mortgages and student loans. Pertinent statistics also reveal that around 55 million households are availing of credit card services while 70% of University students own and use a credit card.