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 ?
Carlton and Frankel explain how collectively set interchange fees can be used to generate more revenue for members of credit card systems at the expense of merchants when there are imperfections in the payment systems market.
MERQ has received the first post-establishment financing round to develop its products, notably 'Sally', the first Chatbot through Facebook's social networking platform to introduce the Egyptian community to all credit card systems within the country.
applicable, please indicate if there has ever been a compromise to any credit card systems or
Luxury hotel operator Mandarin Oriental has released a statement confirming that its credit card systems have been hacked.
Yet management has struggled with fully understanding the overall performance in the lobby due to various systems capturing fragmented sales and service information such as DDA systems, time and deposit systems, loan systems and credit card systems, and in most cases no dedicated systems for tracking lobby service.
HSBC chief technology and services officer Ken Harvey said: "It is now paying dividends in excess of its costs, This project is aimed at improving customer experiences and it happens to have a significant cost advantage as well." The project will replace 55 separate core banking systems, 24 credit card systems, 41 internet banking systems and 40 desktop standards with the single One HSBC platform.
The Reserve Bank has varied the Access Regimes for the MasterCard and Visa credit card systems and revoked the Access Regime for the Visa Debit system.
"TSYS flexibility makes it that much easier to change the types or amounts of rewards a given card might earn," explained Susan McClure, manager of credit card systems for Navy Federal's roughly 900,000 credit card accounts.

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