Credit cards are a type of open-end credit. They permit the holder to borrow cash in a transaction called a cash advance.
The term credit card is used to cover a variety of different types of cards.
Types of Credit Cards 5-12 Debit cards allow you to subtract the cost of your purchase from your checking account. Debit Cards Designed primarily to allow business customers to pay expenses in line with company reimbursement programs. Travel & Entertainment Cards Some businesses offer credit cards. These cards encourage greater spending at the stores. They often charge higher interest. Retail Credit Cards A bank credit card allows the holder to make purchases anywhere the card is accepted. Bank Credit Card Characteristics Type
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