credit card

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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.

credit card

a card issued by a financial institution (mainly COMMERCIAL BANKS and BUILDING SOCIETIES), which can be used generally to purchase goods and services on CREDIT up to an agreed limit, or, for example, by a retail group for in-house purchases only. Credit cards are a convenient way of making purchases and many issuers provide the facility interest-free, provided clients pay off the outstanding balance in full when due. In the UK, retailers pay the credit card companies, on average, around 2% commission to participate in the credit card schemes and may pass on this charge to customers who pay for products by credit card rather than cash.

credit card

a plastic card or token used to finance the purchase of products by gaining point-of-sale CREDIT. Credit cards are issued by commercial banks, hotel chains and larger retailers. See EFTPOS.
References in periodicals archive ?
For a discussion of economies of scale in credit card operations, see Christine Pavel and Paula Binkley, "Costs and Competition in Bank Credit Cards," Federal Reserve Bank of Chicago, Economic Prospectives, vol.
The all-round value offered to cardholders and the ability to earn shopping points regularly is unmatched in the market and this is a primary reason why the Lulu-Doha Bank credit card was named the Best Credit Card in the Middle East region by The Banker magazine this year.
Bank credit cards, used by 56 percent of households, are the most widely used credit product.
Doha Bank Group CEO R Seetharaman said: "Coupled with pioneering features such as instantly redeemable loyalty points, free-for-life, 0% payment plans, complimentary lounge access, travel insurance and more -- the Doha Bank Credit Cards are certainly the most rewarding in the market.
Bank Credit Card The industry has seen a dramatic rise in the number of bank credit cards issued to subprime (defined as those with Equifax credit scores less than 600) borrowers with a 56% increase in January-August 2011 originations over January-August 2010 originations.
Design My Card has a simple, easy-to-use interface that allows visitors to upload and customize their photos on a Credit One Bank credit card.
This new promotion continues the development of our successful customer satisfaction strategy and our commitment to providing convenience for customers by adding to the number of outlets which accept Gulf Bank s cards and providing special discounts, promotions and other customer benefits when Gulf Bank credit cards are used for purchases.
The survey of the nation's top 350 bank credit card issuers, conducted in late August, also showed 43% of those planning Web sites intend to take credit card applications on-line.
Bank credit card partnership, they can rest assured our USEF equestrian athletes will benefit financially, not only with the initial activation, but with every purchase they make thereafter.
Bank credit card products, including a card that provides cash back on purchases and another that earns reward points that can be redeemed for gift certificates, merchandise and nearly any reward the cardholder chooses with the Name Your Own Reward option.
On January 26, Northwest Airlines announced that it had selected FBS as its bank credit card partner and that it had terminated its bank card affinity agreement with Bank One of Columbus, Ohio, effective February 1, 1994.
This marks the first time that a major professional organization has sponsored a bank credit card that has the capability of making medical payments.