Credit card holders are individuals who have been issued a credit card by a financial institution or a credit card company. A credit card is a payment card that allows its holder to purchase goods and services on credit, up to a certain limit. Credit card holders can use their credit cards to make purchases online or in-person, and they are required to pay back the amount they owe, either in full or in installments, along with interest and any other fees that may apply. Credit card holders are required to meet certain eligibility criteria to be issued a credit card, such as having a good credit score and a steady income. Once they are approved for a credit card, they are given a credit limit, which is the maximum amount they can borrow on their credit card. Credit card holders are responsible for managing their credit card debt and making timely payments to avoid late fees and penalties. Credit card holders can benefit from various rewards and perks offered by credit card companies, such as cashback, travel rewards, and discounts on purchases. However, they must also be aware of the risks associated with credit card use, such as overspending, identity theft, and fraud.
credit card, payment card, financial institution, eligibility criteria, credit limit
CITATION : "Nicholas Anderson. 'Credit Card Holders.' Design+Encyclopedia. https://design-encyclopedia.com/?E=406598 (Accessed on December 30, 2024)"
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