If you have your own credit card and use it to buy goods, pay for a service, or pay a bill, then you’re borrowing money and promise to pay back later. If the borrowed money is paid back in full on time before a given due date, then no interest or any other fees will be charge on it. If the borrowed money is being paid back partially overtime instead, then interests or fees will be charge on it.
Usually, there are three options on how you can choose to pay back on your credit card in order to avoid late fees and penalties: pay in full, pay only the minimum, or pay more than the minimum. Two of the options will have interest fees.