US banks set aside billions as buffer against bad loans

Three major US banks have set aside an additional $23 billion as a backstop against bad loans, highlighting the brittle state of the US economy due to the coronavirus pandemic, the companies said Tuesday.

Business

US lawmakers press online ad auctioneers over user data

A bipartisan group of US senators has sent letters to major digital ad exchanges, including Google and Twitter, asking whether user data was sold to foreign entities who could use it for blackmail or other malicious ends.

Business

Study: Cash payments remain key part of equitable transit

Today, there are more ways than ever to pay a bus fare. Instead of painstakingly counting their change into a farebox, transit riders can quickly tap their phone or swipe an auto-reloadable transit card.

Internet

Worried about identity theft? What to do to minimize your risk

I'm a victim of identity theft. Thieves stole my wallet out of my purse and were able to find out everything else they needed to steal my identity online. They exploited a system that the government, law enforcement and financial ...

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Credit card

A credit card is part of a system of payments named after the small plastic 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. The issuer of the card grants a line of credit to the consumer (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 having interest charged. Most credit cards are issued by local banks or credit unions, and are the shape and size specified by the ISO/IEC 7810 standard as ID-1.

This text uses material from Wikipedia, licensed under CC BY-SA