A number automatically generated by the computer, then sealed and sent to the cardholder. Interest accrues at the time the statement cycles. This same date appears on every statement, regardless of holidays. The payment due date is at least 22 later.
Merchant/Accepter - an individual, organization, or corporation that accepts credit cards as payment for merchandise or services.This institution is also responsible for billing the cardholder for charges. Issuer - an institution that issues credit cards to cardholders.Corporate cards are an exception to this rule. Typically, this individual is also responsible for payment of all charges made to that card. Cardholder - an individual to whom a credit card is issued.As the outstanding balance is paid, the available credit line is restored for use again. Credit Card - Credit cards are a form of revolving loan by where the cardholder can access a line of credit to make purchases, cash advances, or balance transfers.
