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 ?
As consumers used their debt cards, so-called "sniffer software" had been capturing, among other things, card numbers, expiration dates and cardholder names.
Chairman NADRA informed the meeting that NADRA only verifies the identity of IDP in NWFP and register them outside of the province and added that total 52, 727 families have seen processed for cash disbursement and issued them debt cards of Rs.
com links to a wide variety of cards, sorted into those offering rewards, cards aimed at business users, users with bad histories, cards giving instant approval, and even for users who want pre-paid debt cards.
A Nationwide spokesman said: "UK cardholders spent over pounds 20billion on credit and current account debt cards overseas in 2004.