credit card definition

  • noun:
    • A plastic card having a magnetic strip, given by a bank or business authorizing the holder purchase products or solutions on credit. Also known as bank card.
    • A plastic card, with a magnetic strip or an embedded microchip, connected to a credit account and familiar with buy items or services. It is like a debit card, but cash comes not from your personal bank account, however the bank lends money the buy on the basis of the borrowing limit. Borrowing limit is determined by the earnings and credit rating. Bank fee APR (annual percentage rate) for using of income.
    • a card (usually synthetic) that guarantees a seller that person using it features an effective credit rating which the issuer might find to it that the vendor receives repayment for the product delivered

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