Credit Card
/ˈkrɛdɪt kɑːrd/
Definitions
- (n.) A payment card issued by a financial institution allowing the holder to borrow funds up to a pre-approved limit for purchases or cash advances, subject to repayment with interest.
She used her credit card to pay for the hotel stay and settled the balance later.
- (n.) In legal contexts, evidence of financial liability or a contractual right to borrow money, often governed by consumer protection and credit regulation laws.
The contract stipulated the terms under which the credit card could be used.
Forms
- credit cards
Related terms
See also
Commentary
Legal drafting sometimes distinguishes between credit cards and similar instruments like charge cards or debit cards; precise definition ensures applicability of consumer protections.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.