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 ?
The New Generation and Self Owned Intellectual Property Credit Card System - TOPCard Went into Operation for Shanghai Bank
FTRANS' solution addresses this problem and provides financial flexibility in the same manner as banks and credit card systems have done for retail merchants.
Integrated Credit Card System and EFT network connections to Visa and MasterCard.
The commerce server also interacts with Credit Card systems and prepaid systems, provides e-wallet services and supports micro-payments.
In addition to this new service, BCR also uses Euronet's Integrated Transaction Management, ATM Management, Point-of-Sale (POS) Management, Debit Card and Credit Card systems.
By using the FEDS Asia solution and combining it with MEPS and our own credit card systems we are now able to offer our customers a secure, efficient and easy to use Internet credit card payment solution that will establish UOB Malaysia as the leading Internet merchant bank in the country.
During the year, the bank established an anti-fraud group to monitor activity at all of its credit card merchant customers and significantly enhanced its credit card systems to enable the bank to process increased volume without a significant increase in headcount.
AlphaTrust provides a legal and risk management framework that is based on international financial networks, such as credit card systems.
FutureTV and Mondex will interface with operators' interactive TV and video-on-demand systems, and then take the transactions to make the appropriate connections to the established banking and credit card systems.
Regions Financial Corporation (Nasdaq:RGBK) announced today that all of its banking systems including deposit, loan, Internet banking and credit card systems, ATMs, Trust, Investment and branch facilities have checked out and are operating as usual in the new century.
When credit card systems recognize transactions as based in Bermuda, it permits settlement on the island, so the seller can take advantage of the benefits of the island's regulatory framework, security and potential tax advantages.
In the area of Payment Services, Computer Horizons has entered into a strategic alliance with PaySys - the world's leading provider of banking and retail/private label credit card systems.

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