ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

redit cards are a form of substitute for direct payments

Updated on March 20, 2016


Credit cards are a form of substitute for direct payments. This form of payment is made based on reputation. Cardholders do not have to pay cash when buying. Instead, the Bank will advance the money to the seller and the cardholder will pay back to the bank transactions. Credit cards allow customers to "amortization" payment amount in your account. Cardholders do not have to pay the full balance on your statement monthly transactions. However, the cardholder must pay the minimum payment by the due date indicated on the statement. Other credit card with a debit card because the money was not debited directly into the deposit account of the cardholder immediately after each purchase or cash withdrawal.

Credit cards are issued after the service provider approved by the approved credit card account, then the cardholder can use it to make purchases at the point of sale to accept cards.

When shopping, commitment card users will pay for the card issuer. Cardholders express this commitment by signing up with itemized bills to the amount of the card, or by entering a personal identification number (PIN). Also many sales locations also accept how to verify by phone or over the internet to verify the transactions is called transaction absentee or absentee cardholders card (CNP - Card / Cardholder Not Present).

Cardholders can also withdraw cash from the credit card account (cash advance) if desired

People use many electronic systems for verification within seconds the validity of the card and check card's credit limit was sufficient to pay for purchases not. The verification is done by a card reader (POS - Point of Sale) connected to the receiving bank (acquiring bank) of the sellers. The reader reads data from the card's magnetic strip or from the chip on the card. New cards using the IC card is often called "chips" or EMV cards.

The online sales often use a different method to verify the card account, in which cardholders often provide additional information such as the security code printed on the back of the card, the cardholder address or password specified before.

Every month, cardholders get a list showing which transactions done by card, the fees and the total amount owed. After receiving the statement, the cardholder has the right to appeal dismissed some transactions he / she deem improper. If there is a complaint, the due date, the cardholder must pay a portion of predetermined minimum, or more, or pay off debt. Provider of credit services will charge interest on the arrears (usually with higher interest rates in most other forms of debt). Many financial institutions can arrange for automatic repayment, cutting money from the bank account of the cardholder (if there is enough money) to avoid delay repayment.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)