10 Facts about Credit Cards

Tuesday, April 19th 2016. | Economy

Let me show you interesting information about a method of payment on facts about credit cards. The cardholders are the user of this payment card. The credit card can be used by the cardholders to pay for various services and goods. One of the primary issuers of credit card is bank. The cardholder was lent by the bank to make payment for the service and goods. Get other interesting facts about credit cards below:

Facts about Credit Cards 1: is it similar with a charge card?

If you think that a charge card and a credit card are similar, you are wrong. The former one forces the cardholder to pay the balance fully per month.

Facts about Credit Cards 2: the size of credit cards

On average, the credit card is measured at 3.370 inches x 2.125 inches or 85.60 mm x 53.98 mm. This measurement complies ISO/IEC 7810 ID-1 standard.

Credit Cards Facts

Credit Cards Facts

Facts about Credit Cards 3: the card number

The credit card also has the card number issued by the bank. It comes in embossed or printed feature.

Facts about Credit Cards 4: the plastic credit cards

There were many department stores which generated the plastic credits cards before the extensive usage of magnetic stripe readers.

Facts about Credit Cards

Facts about Credit Cards

Facts about Credit Cards 5: the size of plastic credit cards

The plastic credit cards were made in narrower and longer size compared to the recent credit cards. The security of the modern credit cards is more impressive because it is equipped with a computer chip.

Facts about Credit Cards 6: Edward Bellamy

Have you ever heard about Edward Bellamy? This man was an author of Looking Backward. It was his utopian novel released in 1887. If you read the novel, Bellamy described the idea of purchasing using a card.

Credit Cards

Credit Cards

Facts about Credit Cards 7: the term credit card

Looking Backward written by Bellamy mentions the term credit card eleven times.  If you check the content of the novel, the term credit card was not used for borrowing. It was used to as the dividend of a resident. Check facts about credit union here.

Facts about Credit Cards 8: the early form of credit card

The early form of credit card is the Charge-Plate. The development of this plate was in 1928. In 1930s until 1950s, the people used it in United States.

Credit Cards Types

Credit Cards Types

Facts about Credit Cards 9: an agreement with merchants

There is an agreement between a merchant and the issuer of a credit like a credit union or a bank. The agreement is related whether the merchant will accept credit card or not. Get facts about compound interest here.

Facts about Credit Cards 10: the advertisement

To know whether a certain merchant accepts credit card or not can be seen from the logos located on their display.

Credit Cards Images

Credit Cards Images

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