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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The effectiveness of credit-card regulation for vulnerable consumers.
Factors influencing levels of credit-card debt in college students.
While the University of South Carolina welcomes card vendors to campus, it also offers classes like University 101, an introduction to campus life, which includes visits by bank representatives who offer tips on using credit wisely and encourage students not to run up high credit-card balances.
Penalty fees and interest combined now cost average credit-card holding households more than $800 each year.
Both in the United States and abroad, there is a clear correlation between rising credit-card use and increasing rates of bankrupt.
Federal Reserve Chairman Ben Bernanke, asking him to strengthen that agency's credit-card data collection.
Barney Frank (D-Mass.) and Carolyn Maloney (D-N.Y.) specifically, urged the Fed--as it conducts its Congressionally-mandated biannual review of the consumer credit-card market--to require card issuers to provide information and data on: (1) credit-card fees and interest rates; and (2) sources and magnitudes of various revenue streams.
To take just one example, 2.5 million South Koreans have fallen into arrears on their credit-card payments, in a nation of only 48 million people.
The study also underscores the need for small-business credit-card reform, as unfair and deceptive practices within the credit-card industry undoubtedly have played a part in the debt examined in the study.
To blame the merger and acquisitions era for what appears to be a rather whimsical career track and the thousands of dollars in credit-card debt that financed the various transitions seems a bit of a stretch.
Then there is Catherine, whose predicament is intended to represent "the effects of student loan obligations and personal bankruptcy as strategies for coping with credit-card debt" particularly on single women.
This increase is occurring despite a rise in the number of small businesses reporting worsening credit-card terms.