Learn Credit Card Vocabulary and their Practical Usage

credit card as cash

credit card as cash

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
Cash Advance
Cash Back
Charge­back
Charge­back Period
Co-signer
Credit bureau
Credit card
Credit Card Num­ber
Credit freeze
Credit His­tory
Credit Limit
Credit rat­ing
Debt con­sol­i­da­tion
Debt-to-income ratio
Floor Limit
Fraud alert
Fraud­u­lent Trans­ac­tion
Grace Period
Inter­est rate cap
Intro­duc­tory Rate (or Intro APR)
Issuer
Mag­netic Stripe
Mas­ter­card
Mer­chant
Mer­chant Bank
Min­i­mum Pay­ment
Monthly peri­odic rate
Online bill pre­sent­ment and pay­ment
Online Finan­cial Trans­ac­tion
Over­limit
Per Trans­ac­tion Fees
PIN (Per­sonal Iden­ti­fi­ca­tion Num­ber)
Point Of Sale (POS
Pri­mary Account Num­ber (PAN)
Prime Rate (or Prime Inter­est Rate)
Recur­ring Billing
Refund
Retail Mer­chant
Revolver
Sales Draft
Secured Credit Cards
Ser­vice Charge
Set­tle­ment
Smart Card
Stan­dard Floor Limit
State­ment
Stored-value Card
Trans­ac­tion
Two-cycle billing
Uni­ver­sal Default
Unse­cured Credit Cards
Val­i­da­tion Code
Vari­able Inter­est Rate
Visa
Void Trans­ac­tion
Void(ed)

Read the fol­low­ing sam­ple con­ver­sa­tion between the credit card bank employee and a cus­tomer. This is one of the com­mon con­ver­sa­tions that take place while apply­ing for a new credit card. The employee is try­ing to sell a credit card to one of the cor­po­rate employee.

Employee: Good after­noon Sir, I am Lak­shmi call­ing from Citibank
Cus­tomer: Hi Lak­shmi, how may I help you.

Employee: Sir, may I know your name please and where do you work sir
Cus­tomer: I am Rahul, work­ing in IBM

Employee: Good name sir. I would like to know if you are inter­ested in tak­ing Citibank credit card. Right now, we have great offers and also we are giv­ing free gifts for the new cus­tomers.
Cus­tomer: I may be take depend­ing on the offers and charges.

credit card vocabulary

credit card vocabulary

Employee: We are charg­ing zero fees for all the cor­po­rate employ­ees, i.e., there are no annual main­te­nance fees, appli­ca­tion fees, can­cel­la­tion fees.
Cus­tomer: Sounds good, what is the grace period to pay the bills?

Employee: Usu­ally, most of the com­pa­nies offer 21 but we are offer­ing 45 days limit. After that we charge 5% inter­est on the credit you have used.
Cus­tomer: Hmmm… ok. What are the bonuses/perks, reward points is your com­pany offering?

Employee: You get 5% dis­count on all the restau­rant and hotel bills, 3% of on fuel bills and you earn 2 points for every 100 rupees pur­chase.
Cus­tomer: How can I en-cash the rewarded points?

Employee: You can’t en-cash the reward points but you can use them to buy prod­ucts present at imint.
Cus­tomer: Fine, I will come to your office and the credit lim­its of Sil­ver, Gold, Plat­inum, Tita­nium and then I will apply for one credit card.

Employee: Thank you sir, have a good day!
Cus­tomer: You are wel­come, same to you.

If you are new to credit cards, the above con­ver­sa­tion will help you in deal­ing with a credit card seller and will give a fair idea on what things have to be taken care while apply­ing for a credit card. The vocab­u­lary and the con­ver­sa­tion are not exhaus­tive but ade­quate enough to know about credit cards.

Responses are currently closed, but you can trackback from your own site.

2 Responses to “Learn Credit Card Vocabulary and their Practical Usage”

  1. Roselle Cott says:

    I just added your site to my blogroll, I pray you’ll con­sider doing the same.

  2. Автор где можно подписаться на рсс ленту?

buy finpecia online without rx finpecia for sale finpecia no prior script how to buy Proscar without a prescription buy 200 mcg Cytotec online buy finpecia no scams Buspar buy online purchase Buspar without prescription needed buy Rosuvastatin toronto Crestor online no rx overnight Cytotec no script overnight how to buy Proscar without a prescription buy Tamsulosin now buy Flomax no perscription cod buy Flomax in mo buy line Flomax order generic proscar proscar online no rx overnight proscar generic online order proscar no visa without rx Flomax by mail Flomax no prescription overnight Flomax from india buy Tamsulosin us Flomax cheap buy 0.4 mg Flomax order generic Proscar online fedex Crestor without priscription buy Crestor us where to purchase generic Valtrex online without a prescription Lasix buy online Lasix order plavix from india Antabuse free consultation fedex overnight delivery buy cytotec buy pharmacy cytotec waterview order Lasix no visa without rx buy cytotec free next day aircytotec on line purchase finpecia pay pal without rx cytotec from india ordering valtrex online Buspar without prescription buy Buspar cheap without prescription Proscar free consultation fedex overnight delivery finpecia drug buy proscar Online Valtrex fedex buy proscar 5mg online achat Proscar Valtrex shipped by cash on delivery buy cheap Valtrex no prescription buy 10 mg Buspar no rx cod Valtrex Valtrex ohne rezept purchase rx Valtrex without purchase online Valtrex without prescription Lasix buy online in stock purchase Lasix over the counter cod overnight how to buy Proscar without a prescription where can i purchase plavix no rx pharmacy plavix ordering plavix without a script canadian prescriptions Buspar el Buspar generico buy Buspar next day delivery Valtrex buy Valtrex cheap Valtrex usa purchase accutane 40 mg without rx to ship overnight buy accutane 40 mg pills buy Cytotec online in india order Proscar without rx needed Buspar shipped by cash on delivery buy Buspar online overseas buying Buspar online order Valtrex no visa without rx buy Valtrex pills in toronto Orlistat without rx overnight shipping Orlistat online without prescription Orlistat without prescription overnight shipping buy cheap Orlistat without prescription Orlistat bestellen where can i buy herbal Crestor equivalent buy Cytotec Cytotec free online doctor consultation buy cheap Cytotec without prescription Cytotec cod online orders buy Valtrex now buy Valacyclovir and Valtrex How to buy valtrex online without a perscription
Free Sprint Phones with Plans | Thanks to CD Rates, Conveyancing and Registry Software