Many new people interested in collecting credit cards and other types of credit pieces are joining the American Credit Card Collectors’ Society. It’s important everyone understands the credit card collecting hobby’s terminologies. Here goes:
Credit card collecting terms you need to know
Affinity Card
A MasterCard or Visa bank credit card sponsored by an organization. The organization gets a portion of the revenue from the bank issuing the card.
American Numismatic Association
The world’s largest organization that encourages the study and collecting of coins, paper money, medals, and tokens. Also known as the ANA.
ATM
Automatic Teller Machines are used to dispense cash to cardholders.
BankAmericard
Predecessor of today’s Visa bank credit card.
Cash Card
See Prepayment Card.
Charga-Plate
See Metal Charge Plate.
Charge Card
A card that establishes the credit of the person to whom it is issued. The account must be paid in full each month.
Charge Coins
The first known credit pieces, issued from the 1890s to the 1950s. Usually made of metal, issued in various shapes and approximately the size of a quarter dollar. The issuing store’s name, monogram or initials are on it. Each coin carries an account number but no customer name.
Charge Token
See Charge Coins.
Coupon
Perforated paper attached to a paperboard credit card that must be torn off to allow the cardholder to charge certain items. Mainly used on early gas credit cards to limit the number of tires and batteries that could be charged.
Credit Bureau
The organization where local companies check and report on a person’s credit file.
Credit Card
A card that establishes the credit of the person to whom it’s issued. The card has revolving credit attached to it so only part of the card’s debt is due each month.
Credit Protection Services
Companies that keep a list of your credit cards and account numbers. If your cards become lost or stolen, call the company’s 800 number and they’ll notify your credit cards’ issuers and order replacements.
Credit Token
See Metal Charge Plate.
Data Card
The world’s largest credit card manufacturer.
Debit Card
A card used to deduct the cost of your purchase from your bank account. The card has no credit attached.
Diners’ Club Booklet Card
An early Diners’ Club credit card which is a directory of where the card could be used. The booklet’s front cover is the credit card.
Excessive Inquiries
When a person applies for credit, the credit grantor requests a copy of the applicant’s credit file from the credit bureau. The credit bureau is required to record this “inquiry”, showing by who and when the file was requested. When a person applies for numerous credit accounts, in a short time period, the file shows a large number or an excessive number of inquiries.
Hologram
Foil backed, three-dimensional design that appears to change shapes and colors when rotated in the light.
Laser Card
A standard-sized card that uses laser beams to read and record information. Some cards have the capacity to store the equivalent of 8,000 pages of typed information.
Lifestyle Card
MasterCards and Visas issued with colorful designs to attract special interest groups. Similar to affinity cards except no organization is involved so the issuing institution gets all the profits.
Magnetic Stripe
The dark band on the back of a card that has account information encoded in it.
Maverick
An unidentified credit piece. Generally applies to charge coins with initials where the issuer’s name isn’t known.
Master Charge
Predecessor of today’s MasterCard bank credit card.
Melinex
A pure polyester plastic that’s safe for storing collectibles.
Metal Charge Plate
A charge piece, generally made from aluminum, with raised metal that has the customer’s name, address and account number. It’s similar in shape, size, and appearance to a military dog tag. The back of the plate has a cardboard mount which carries the issuer’s name and customer signature space. All metal charge plates were issued with carrying cases.
Mint
The original condition of an item when it’s made.
Mylar
A pure polyester plastic that’s safe for storing collectibles.
NFL Card
National Football League affinity Visa bank credit card. There are 28 different varieties of cards, one for each of the National Football League’s teams.
Numismatics
The study, science, and collecting of coins, paper money, medals and tokens.
Prepayment Card
Thin, standard-sized card that is paid for in advance and used to make purchases. Purchases are deducted from the amount stored on the card. Mainly used in Japan for public telephones and vending machines.
PIN
Personal Identification Number. A four digit number used to identify the cardholder in a transaction.
Punch Canceled
A card that has been invalidated by having holes punched in it.
PVC
Polyvinyl Chloride. Vinyl is an unsafe plastic marketed to store collectibles. Generally available in sheets or 2″ X 2″ holders.
Smart Card
A card containing a miro-chip which can exchange information with a computer.
T&E Card
Travel & entertainment card. A charge card aimed at business customers. Examples are American Express and Diners Club cards.
Token
An object made of a hard material issued to represent value or money. Also used for advertising, services or other purposes.
Violet Cards
An American Express series of violet colored plastic credit cards issued with the Centurion logo in the cards’ upper left front corner.
Copyright 1989 by Greg Tunks
