Bookmark
home about us contact us faq sitemap
home
our products
Standard
Bad Credit
Speciality
Instant Approval
Merchant Accounts
Glossary
Newsletter SIGNUP
subscribe
credit cards faq/glossary
The most common questions asked about Credits Cards.
read more INFORMATION
Credit Card Glossary
a b c d e f g h i j k l m n o p q r s t u v w x y z
O
 
Open loop
definition
What does Open Loop mean?

Open loop cards are those cards which have generally accepted use, meaning these are accepted almost anywhere. The most popular type of such cards carries the logo of brands as Visa or MasterCard. Particularly enjoyed open loop cards are the gift cards nowadays, which gives the card holder a free hand in choosing the store of his/her choice for making the purchases. The opposite of open loop cards are the closed loop cards which’s use is more restricted, in the sense these can be used only in specific department stores.
Overdraft protection Next Word
Previous Word Online financial transaction
  To Main: O