Credit card debt is a type of revolving debt. You can keep borrowing month after month as long as you repay enough that you never owe more than your credit limit. Credit card accounts can be used indefinitely, unlike installment loan accounts that are closed once the balance is paid off.
This type of debt can easily get ahead of you, however, wreaking havoc on your finances and your credit score. It's generally advised that you shouldn’t charge more than you can afford to repay at the end of each month, no matter how high your credit limit might be. You’re charged interest on the debt when you don't pay off your balance, and this will accumulate until you do so you can get even further behind.
Source: The Balance
