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A
credit card is a system of payment named after the
small plastic card issued to users of the system.
A credit card is different from a debit card in
that it does not remove money from the user's
account after every transaction. In the case of
credit cards, the issuer lends money to the
consumer (or the user). It is also different from
a charge card (though this name is sometimes used
by the public to describe credit cards), which
requires the balance to be paid in full each
month. In contrast, a credit card allows the
consumer to 'revolve' their balance, at the cost
of having interest charged. Most credit cards are
the same shape and size, as specified by the ISO
7810 standard. |
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