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Credit Card |
Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Credit card Any card, plate or coupon book that may be used repeatedly to borrow money or buy goods and services on credit. Credit Card A card entitling the owner to use funds from the issuing company up to a certain limit. The holder of a credit card may use it to buy a good or service. When one does this, the issuing company effectively gives the card holder a loan for the amount of the good or service, which the holder is expected to repay. Most credit cards have variable and relatively high interest rates on these loans. Credit cards also have a limit, which may be raised or lowered depending on the creditworthiness of the card holder. Most analysts recommend treating a credit card as a short-term loan, as allowing the interest to compound for too long may result in dire financial straits. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Much of the increase is attributable to a rise in the level of credit card debt, which has raised the share of households' aggregate after-tax income that is devoted to credit card payments. Although inappropriate credit card use can lead to financial disaster, proper use can largely enhance your life (see Declaration of Financial Empowerment, Principal No. was informed by a major credit card company (VAM) that its discount rate--the fee charged on sales resulting from the use of its credit card--would be increased immediately unless its credit card sales volume could be doubled. |
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