10 Facts about Credit Cards
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.
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 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.
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.
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.
Do you like reading facts about credit cards?