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 ?
It should be noted that the cashback offer is only valid when one purchases the devices on EMI scheme using an ICICI Bank credit cards.
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.
If customers don't have enough points for a free award ticket, they can pay the remaining balance with their Gulf Bank credit cards and earn Gulf Points for the payment.
Bank credit cards, used by 56 percent of households, are the most widely used credit product.
During the promotion period, for every QR1/- spent with the Lulu-Doha Bank credit card, cardholders will now receive 2 shopping points back which can be redeemed within Lulu stores to enjoy more free shopping on everything from freshly baked food to household items and electronics.
Jamal Al-Hazeem, Chief Executive Officer of BMI Bank said, "In line with our commitment to constantly enhance our products and services to better serve our customers financial needs, I am pleased to roll out our new facility that not only provides customers transferring in their outstanding on other bank credit cards with a ninety day reprieve from interest but also enables them to take advantage of one of the most competitive and rewarding credit card products that is currently available in the market.
During the promotion, those shopping for gift items, perfumes, chocolates, electronics or anything else at the Qatar Duty Free in Doha International Airport with Doha Bank credit card will earn a 5% cash back.
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.