credit card definition

credit card

Standard-size plastic token, with a magnetic stripe that holds a machine readable code. Credit cards are a convenient substitute for cash or check, and an essential component of electronic commerce and internet commerce. Credit card holders (who may pay annual service charges) draw on a credit limit approved by the card-issuer such as a bank, store, or service provider (an airline, for example). Cardholders normally must pay for credit card purchases within 30 days of purchase to avoid interest and/or penalties.

credit card is in the Banking, Commerce & Finance and E-Commerce subjects.

credit card appears in the definitions of the following terms: merchant account provider, electronic purse, air travel card, hologram, relationship banking, full service merchant wholesaler, commerce server, skimming, retail banking, card present and

credit card appears in the other terms: secured credit card, credit card processor

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