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Finance & Banking vocabulary · Payments & Cards

Credit card

Meaning in finance & banking, with examples

nounCore term

In finance & banking, credit card means: A plastic or digital card that lets you buy now and pay the bank later. You can spend up to a limit and pay interest if you do not repay the full amount on time.

In Turkish: kredi kartı

How it is used

Used daily by card issuers, call centres and customers. People apply for, use, pay off or cancel a credit card; banks talk about the card's limit, statement, due date and annual fee.

Example sentences

  1. The customer wants to raise the limit on her credit card before her holiday.

  2. If you only make the minimum payment, interest is charged on the rest of your credit card balance.

Common collocations

  • apply for a credit card
  • credit card statement
  • credit card debt
  • pay by credit card
  • annual fee
  • debit cardA card linked to your bank account that takes money directly from your balance when you pay or use a cash machine.
  • credit limitThe maximum amount a bank allows a customer to borrow on a credit card or a credit line.
  • minimum paymentThe smallest amount a credit card holder must pay by the due date to keep the account in good standing. Interest is usually charged on the rest.
  • installmentOne of a series of regular payments used to repay a loan or to pay for something bought on credit.
  • chargebackThe reversal of a card payment after the cardholder disputes it, for example because of fraud or goods that never arrived. The money is taken back from the merchant.

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.