Definition
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.
Business Tips
Switch from Credit to Debit Cards to Achieve a Better Credit Score
Credit card debt is no friend to your credit score. One of the best ways to avoid credit card debt is to pay the debt right away, through the use of a debit card. Debit is different from of credit. Wi ... Read more
More Tips
Related Videos
http://www.businessdictionary.com/definition/credit-card.html
