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credit cards faq/glossary
The most common questions asked about Credits Cards.
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Credit Card Glossary
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S
 
Savings bank
definition
What does Savings bank mean?

Although the primary goal of the savings banks is to encourage people to savings and reward them with certain interest payments, they do issue credit cards as well. For example, you can find the U.S. Bank issuing the Visa Platinum Credit Card, which is a reward card, and you can actually receive one point for every dollar spent, and eventually redeem these points.

Among other advantages, the card comes with a 0% introductory rate (for a period of 6 months), you don’t have to pay an annual maintenance fee, plus the package comes with a great variety of insurance options (travel, auto), and most importantly fraud protection in order to avoid unauthorized use of your credit card. There are state savings banks and federal savings banks, where the former is regulated by the local banking agency while the latter is being regulated by the Office of Thrift Supervision.
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