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Introducing the Credit Card

Glossary

acquirer:
The messenger between a merchant and a credit card issuer.
batch:
A set of credit card transactions from a day.
card verification value:
A three to four digit code on the back of a credit card that acts as additional identification.
card brand or processor:
The credit card company that provides the credit card, such as Visa or American Express.
credit card:
A plastic card with a magnetic strip on the back that represents a line of credit.
credit card number:
The 16-19 digit number on the front of a credit card that identifies it individually.
credit card statement:
A detailed list of transactions, fees, payments, and balance figures for a credit card.
expiration date:
The date in which a credit card is no longer valid.
hologram:
A three dimensional mark on a credit card that verifies it is real.
issuer:
The bank or credit card company that issues the credit card.
line of credit:
An account offered in exchange for trust that a card user will pay back its balance.
merchant:
A store or service provider that accepts a credit card payment.
rewards:
Special offers available for spending money on certain credit cards.
signature box:
A box on the back of every credit card where a user is supposed to sign.

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