A credit card and a loan are two different forms of borrowing money, and while they may seem similar at first glance, they have several distinct differences. A credit card is a type of revolving credit, which means that the borrower can make purchases up to a certain limit and then pay back the balance, with interest, over time. This is different from a loan, which is a lump sum of money that is borrowed and must be paid back, with interest, over a set period of time. One of the main differences between a credit card and a loan is the way that interest is calculated. With a credit card, interest is calculated on the outstanding balance each month, while with a loan, interest is calculated on the original amount borrowed. This means that if you only make the minimum payments on a credit card, the interest will continue to accrue and the balance will continue to grow, making it more difficult to pay off. On the other hand, if you make the same minimum payments on a loan, the interest wil