Why is the credit card considered a short term borrowing facility?

An amount spent using a credit card has to be paid back to the bank.

The bank will send you a credit card statement every month.

This will have a repayment date which is usually another 15-20 days.

This time period is not very long and is a maximum of around 45-50 days.

Since this is not a very long period the credit card is considered a short term borrowing facility.

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