Recent Examples of credit card from the Web
Branches at its existing employment centers would enable the bank to serve its nearly 10,000 staff in the region, while offering more products to the bank’s existing mortgage, credit card, student loan and investment clients here.
The lost and found revealed some typical finds, such as credit cards, IDs and wallets.
Delta Delta and Sears said today that a data breach may have leaked the credit card information of hundreds of thousands of customers, as first reported by Reuters.
Both Sears and Delta Air Lines are facing the exposure of some of their customers’ credit card information, following a data breach at a mutual contractor.
The increased supply of Treasuries puts upward pressure on market interest rates that raise borrowing costs on a wide range of borrowing, such as credit cards, auto loans and variable mortgages.
As the Fed raises rates on banks, banks in turn increase interest rates on credit cards, car loans, small business loans, and mortgages.
Amazon Pay enables people to pay for products on third-party sites without reloading their credit card information.
Fifty-seven million customers’ and drivers’ names, email addresses, and phone numbers were compromised—but no trip location info, credit card information, or Social Security numbers were taken.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'credit card.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of CREDIT CARD
What It Is
How It Works
Credit cards have a maximum amount -- or credit limit -- the user can borrow during a given period. The credit limit is pre-determined by the card issuer based on the cardholder's credit rating and credit history.
When an individual uses a credit card to make a purchase, he or she is authorizing the credit card issuer to pay the merchant on their behalf. Merchants are required by law to verify that the individual using the card is its rightful owner by obtaining proper identification via a Personal Identification Number (PIN), and/or a driver's license or state-issued ID card.
Merchants generally prefer payment by credit card because they are immediately paid by the card issuer – despite the fee the merchant must pay to the card processing company for each transaction.
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Credit card issuers require the cardholder to pay his or her balance in full, usually on a monthly basis. If the user does not pay the balance in full, the issuer adds interest to the balance, and this interest compounds for as long as the balance is outstanding.
As with credit limits, the cardholder's credit rating and credit history can influence the interest rate on the card. In some cases, the issuer can raise the interest rate. There is no federal limit on the interest rates credit card issuers can charge, although many states impose different caps. Many card issuers offer "teaser rates" that start out very low and increase over time.
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Issuers use several methods to calculate interest, and it is important for the cardholder to read and understand the issuer's disclosure statement in order to avoid unpleasant surprises. Many credit cards also charge an annual fee, late payment fees, fees for going over the credit limit, cash-advance fees and foreign-currency conversion fees.
Why It Matters
Credit card interest rates are higher than personal loans or lines of credit. Many credit cardholders underestimate the time and money it takes to pay off outstanding balances -- especially when interest rates are high and minimum payments are low.
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It is important that cardholders not only use credit cards in moderation, but also take preventative action against identity thieves in order to protect their privacy and identity.
Credit cards allow cardholders to avoid carrying cash, earn frequent-flier miles, or accumulate other "rewards" that can be used almost anywhere around the world. With many credit card types, the cardholder can also get cash advances through ATMs.
CREDIT CARD Defined for English Language Learners
Definition of credit card for English Language Learners
: a small plastic card that is used to buy things that you agree to pay for later
CREDIT CARD Defined for Kids
Seen and Heard
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