Wednesday, May 24, 2006

A small card issued to the users of a retail transaction settlement and credit system can be called a Credit Card. It is usually a plastic card that is different from a debit card. The difference between a debit card and credit card is that in the former, one can use the card to remove the money from his account, while in the later the issuer lends money to the user. At times, people tend to use the terms credit card and charge card interchangeably, however, in case of charge cards, the balance has to be paid in full every month, while in case of a credit card, the consumers can have any balance and are charged interest. Generally, all the credit cards are of the same shape and size according to the specification of ISO 7810 standard. Read Further...