Summary of Credit Card Terms - Part 6 (R-S)

Receipt – When used in the context of credit card, receipt means a document that provides a record of a transaction that took place at a point of sale, and may also refer to a printable copy for a card not present transaction. This will include transactional details, details of the buyer. The date, amount and a reference number will also be present. Recurring Bill – This refers to a transaction where by the merchant is granted permission by the card holder, to periodically charge their credit card or debit card for service or goods that they will render on a monthly or perhaps a yearly basis. Reference Number – This is a number that is assigned to every transaction for the purpose of being identifiable to the buyer, the merchant bank, the merchant and potential View the rest of this article