Definition of Credit Card

The concept of card credit It is a very recent one if one takes into account that it arose at the beginning of the 20th century. When we talk about a magnetic card we are talking about a small plastic card that has a magnetic stripe and a system of numbers and identification data to decide owner, time of issue and other elements. The main function of the credit card is to allow a person to perform different purchases or actions of consumption without having to pay in cash and being able, in addition, to carry the pay of the products to future periods.

Credit cards are perhaps one of the most important and characteristic elements in the economic and financial field of the 20th century. The most primitive forms of credit cards as we know them today were those that began to spread among some companies of different sectors in USA in the 1920s. These cards were for internal use in such companies and were used to credit salaries and carry out other simple operations, although not yet for consumption. It can be said that the presence of credit cards is typical of an era in which credit cards

finance and speculations about the Finance system they made people talk about silver or capitals that were not in a concrete if not speculative way.

Today, credit cards and their derivatives such as credit cards debit, discount or promotional cards, are all very important elements in the national economies and international since they grant individuals many facilities when making various purchases or actions of consumption. Credit cards usually have an imaginary silver limit that allows the person to buy or consume services and goods until you reach that previously established amount (in which case, the card is disables). The practicality of the cards allows a person to continue consuming even when they do not have cash in hand, as long as they commit to paying it regularly in the near future.

Credit Card Topics