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 ?
And because contactless credit cards don't always require a signature, security issues are a common concern.
All told, Americans cough up about $90 billion annually in interest and penalty payments on credit cards.
Thieves generally steal 15 to 20 credit cards either from one health club or from multiple health clubs before moving to the next phase of the scam.
Over the past several years, competition has led to substantial shifts in market shares among the industry' s largest issuers of credit cards.
Whether you have a negative credit report because you "maxed out" your credit cards during your college days, or you had your home foreclosed, or your car repossessed, or you are currently in arrears on your student loans--you no longer have to be haunted by the creditors in your closet.
The alumni association did not mass mail any credit card applications or marketing materials, but kept application forms in its office and mailed the forms to the one or two alumni who requested them.
Now, the phrase is just as likely to describe anyone with a credit card - issued in the name of the Sierra Club, Wilderness Society, or any of a growing number of green groups looking for a plastic piece of the action.
In addition, the EITF reached a consensus that, for credit card fees and costs for both purchased and originated credit cards, all entity should disclose its accounting policy, the net amount capitalized at the balance sheet date and the amortization period(s).
Chase Bank Platinum Visa[R] - took a respectable second place in 2006 Credit Cards for Holiday Shopping ranking.
In South Korea, for example, it has become so easy for lenders to issue credit cards that the local media reported last year that banks had mistakenly given household pets--which could hardly have a credit rating--their own credit cards.
Reserve credit card use for major purchases or emergencies.

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