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 ?
In addition, debt cards are available which allow boys and girls to pay for items in a shop.
Although Visa offered Walgreens considerable financial incentives to continue accepting its Interlink debt cards, this wouldn't be in the long-term interests of our company or our customers.
If you're overdrawn, debit cards are DEBT cards too, and often they're worse than credit cards.
me/balance transfers SHIFT YOUR OVERDRAFT TO 0% INTEREST TOO DEBIT cards can be debt cards too - if you're in your overdraft it's often more costly than credit cards, especially if you bust your limit.
However, unlike credit or debt cards, there isn't a uniform way of displaying these cards, so holidaymakers are faced with a bewildering array of fees, charges and terminology.
MITHI -- Benazir Income Support Programme has approved names of 87565 destitute women of district Tharparkar for granting financial assistance and as many as 33000 debt cards have been issued while for distribution of more Benazir cards a tehsil wise schedule has been framed so that beneficiary women could get their cards with ease, said Deputy Commissioner Tharparkar, Mohammad Asif Jameel.
BISP sources said that after the serious of hiccup with the postal services, BISP started issuing its own debt cards to the women.
A Nationwide spokesman said: "UK cardholders spent over pounds 20billion on credit and current account debt cards overseas in 2004.
Which is why credit cards ought to be renamed debt cards, because the moment you start using them, you're in the red.