Credit card: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Expand.) |
imported>Doug Williamson (Clarify wording: 'card holder'.) |
||
| Line 4: | Line 4: | ||
The credit card enables the holder to make purchases and/or withdraw cash up to a pre-arranged ceiling; the credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit. | The credit card enables the holder to make purchases and/or withdraw cash up to a pre-arranged ceiling; the credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit. | ||
Interest is charged on the amount of any extended credit and the holder is sometimes charged an annual fee. | Interest is charged on the amount of any extended credit and the card holder is sometimes charged an annual fee. | ||
Revision as of 10:37, 10 February 2017
A card indicating that the holder has been granted a line of credit.
The credit card enables the holder to make purchases and/or withdraw cash up to a pre-arranged ceiling; the credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit.
Interest is charged on the amount of any extended credit and the card holder is sometimes charged an annual fee.
