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Today's News About Credit Cards


* Related Definitions, Terms and Acronyms:
  • Contact smart card - a smart card that requires physical contact with a card reader as a communications medium between the smart card and a host such as the credit card company's computer.
  • Frequent Flyer Program - a service offered by many airlines to reward customer loyalty where airline customers in the program accrue points (frequent flyer miles) corresponding to the distance flown on that airline. Accrued points can be redeemed for free air travel and other products or services.
  • Credit card system - a type of retail transaction settlement and credit system, named after the small plastic card issued to system users. A credit card is different from a debit card in that the credit card issuer lends the consumer money rather than having the money removed from an account.
  • MasterCard PayPass - a new contactless payment feature that provides cardholders with a simpler way to pay by tapping a payment card or other payment device, such as a phone or key fob, on a point-of-sale terminal reader rather than swiping or inserting a card.
  • Charge cards - often used to incorrectly describe credit cards, are cards that do not extend the user credit but instead require that the charges be paid in full each month in full.

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