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 ?
Launched in 2012, the contactless bankcard system was extended in 2014 to cover Londons entire transit network including Tube, rail, bus and tram services.
In the bankcard sector in 2005, 51 percent of consumers with a new credit card had FICO scores less than 700.
European MasterCard International decided that it would no longer take loss responsibilities caused by using the magnetic cards or the counterfeit cards from 2007 in Europe, which means the overall magnetic bankcards used in Europe would be replaced by the smart cards since 2007.
A pilot involving 5,000 volunteers has been trialing contactless bankcard payment across the rail network since April, and the pilot s success is behind today s launch.
8 Development and Investments in Chinese Integrated Circuit Bankcard Industry, 2009-2010
To further ease the transition, the new FICO auto and bankcard scores retain the same scoring range, score reason codes, minimum scoring criteria, and inquiry treatment as previous versions of the scores.
Chapter Three delves into the current bankcard industry in detail and includes descriptions of bankcard organizations and the bankcard industry chain.
Last December, Liu Tinghuan, chairman of China Unionpay, and Su Ning, deputy governor of the People's Bank of China, purchased a necktie with a CUP PIN debit card issued in China, marking the beginning of China Unionpay bankcard acceptance in the U.
recently agreed to acquire more than 250,000 performing bankcard accounts from a large national bankcard issuer.
We look forward to working with TSYS to continuously strengthen our partnership and to jointly promote the development of the Chinese bankcard industry.
For Fiserv clients, it completes the home equity support value chain, as globally accepted bankcards are the most appealing way for consumers to access credit lines," said Max Narro, president of Fiserv Credit Processing Services.
The extended partnership will focus on private label and private label co-brand bankcards, in addition to accounts currently processed for Citibank.