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Credit And Collections

Credit Cards

Definition: A bank-issued card that allows people to purchase goods or services from a merchant on credit
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Credit Policy

Definition: Guidelines that spell out how to decide which customers are sold on open account, the exact payment terms, the limits set on outstanding balances and how to deal with delinquent accounts
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Credit, Extending

Definition: Offering your customers the option of paying for the products and services they purchase from you at a later date instead of upfront
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Merchant Status

Definition: The relationship between a company and a bank or credit card company that allows the company to accept credit card payments from its customers
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