Credit Cards

A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user' s account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user). It is also different from a charge card (though this name is sometimes used by the public to describe credit cards), which requires the balance to be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged.

 

A consumer is issued a credit card after an account has been approved by the credit provider or bank with which the user will be able to make purchases from merchants accepting that credit card up to a pre-established credit line. Types of credit cards include: 0% APR Credit Cards, Airline Credit Cards, Travel Reward Credit Cards, Gas Credit Card, Bad Credit Cards, Cash Back Cards, Low Interest Cards, Reward Cards, Student Credit Cards, and Small Business Cards.