Charge coins and other similar items were used from the late 19th century to the 1930s.They came in various shapes and sizes; with materials made out of celluloid (an early type of plastic), copper, aluminum, steel, and other types of whitish metals.
The issuer of the card (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
A credit card is different from a charge card, where it requires the balance to be repaid in full each month.
In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged.
A credit card also differs from a cash card, which can be used like currency by the owner of the card.
A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.
or embossed bank card number complying with the ISO/IEC 7812 numbering standard.
The card number's prefix, called the Bank Identification Number, is the sequence of digits at the beginning of the number that determine the bank to which a credit card number belongs.
This is the first six digits for Master Card and Visa cards.
The next nine digits are the individual account number, and the final digit is a validity check code.
Both of these standards are maintained and further developed by ISO/IEC JTC 1/SC 17/WG 1.
Credit cards have a magnetic stripe conforming to the ISO/IEC 7813.