In present days, most of the transactions are being made through plastic cards and online transactions. These plastic cards made shopping easier and hassle free. Whether it is debit card or credit card or shopping card or anything else, they have reduced the size of the wallet and increased the buying potential of the consumers. Though credit cards are not the legal tender in the current market, it is the leading non-cash methods of payment and one can’t think about life without them. Let us know discuss about some of the common terminology used while using credit cards.
The following post discusses the vocabulary related to credit cards
Account number
Additional cardholder
Adjusted balance
Affinity card
Annual Fee
Annual Percentage Rate (APR)
Authentication
Authorized Transaction
Automatic payment
Average daily balance
Bad Credit
Balance Transfer
Bank Identification Number (BIN)
Billing Cycle
Billing statement
Card Issuer
Card Reader

July 24th, 2011
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