Do you ever feel like you know just enough about credit card to be dangerous? Let's see if we can fill in some of the gaps with the latest info from credit card experts.
If your credit card facts are out-of-date, how will that affect your actions and decisions? Make certain you don't let important credit card information slip by you.
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.
A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. Most credit cards are issued by banks or credit unions, and are the shape and size specified by the ISO/IEC 7810 standard as ID-1. This is defined as 85.60 × 53.98 mm (3.370 × 2.125 in) (33/8 × 21/8 in) in size.
Take time to consider the points presented above. What you learn may help you overcome your hesitation to take action.
