Visa
Definition
- A credit card issued by VISA USA which is distributed by financial institutions around the world. A VISA card holder borrows money against a credit line and repays those funds with interest if the balance is carried over from month to month in a revolving line of credit.
Notes
A brand of credit card.
Synonyms
credit card, plastic, charge card
Acronyms
V
Related Terms and Acronyms
- American Express Company (AMEX, AXP) — Company, Important,
- A corporation known for its credit card business.
- Card Holder Agreement — Definition,
- A written agreement or contract between a credit card holder and the credit issuer that details the terms and conditions of a credit card account. This agreement must include the Annual Percentage Rate, the monthly minimum payment formula, the annual fee if applicable, and the cardholder's rights in billing disputes. Changes to the agreement can be made at any time by the issuer with prior written notice.
- Classic Card — Definition,
- Brand name for the standard card issued by VISA.
- MasterCard (MC) — Acronym,
- A credit card issued by MasterCard International which is distributed by many financial institutions around the world. Card holders borrow money against a credit line and pay it back with interest if the balance is carried over from month to month.
- Penalty Rate — Definition,
- Several percentage points higher than a card's current annual percentage rate, which goes into effect after two late payments. On some cards, a single late payment triggers a penalty rate.
- Rebate Card — Definition,
- This is a credit card that allows the customer to accumulate cash, merchandise or services based on card usage.
- Standard Card — Definition,
- The basic card offered by issuers. Customers with higher incomes and good credit reports can qualify for the higher-limit gold and platinum cards.
