Credit card - What is a credit card?

Definition: A credit card is a plastic card that is issued by a financial company and allows its owner the option to borrow money from the issuer.

Credit cards are plastic cards (in standard wallet size) that contain a short strip of magnetic tape containing data that will tell a credit card reading device who the owner of the credit card is, their account number, etc.

This allows credit card holders to pay for merchandise or services with credit instead of by using cash or writing a check.

Credit cards = short term financing

Owners of credit cards have the ability to borrow a certain amount of money from the credit card issuer, to be paid back within 30 days without interest.

Most all credit card issuers charge interest for loans taken longer than 30 days to repay.

Credit cards may be issued by a bank, store, service provider (such as an airline) or other finanical institution.

Credit card payment in E-conomic

In E-conomic, you have the opportunity to pay your bill online through our secure credit card payment site.

Payment by credit card with E-conomic is 100% secure. The payment connection is protected by a 128-bit encryption and is certified by the Payment Card Industry. This means that all of the rules and specifications for making payments online apply.

Learn more about secure only payment with E-conomic, or pay your bill online by credit card now.