A credit card is part of a system of payments named after the smallplastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services.[1] The issuer of the card grants a line of credit to theconsumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.
A credit card is different from a charge card, where a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers to 'revolve' their balance, at the cost of havinginterest charged. Most credit cards are issued by local banks or credit unions, and are the shape and size specified by the ISO/IEC 7810standard as ID-1. This is defined as 85.60 × 53.98 mm in size.
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