When accepting payment by credit card, merchants typically pay a percentage of the transaction amount in commission to their bank or merchant services provider. Many credit card issuers, particularly those in the United Kingdom and United States, share the commission with the card holder by giving the card holder points, airmiles or a monetary amount. This last benefit, a monetary amount, is usually known as cashback, although it is often separated into two words (cash back) in the United States. Where a card issuer operates such a cashback scheme, card holders typically receive between 0.5% and 2% of their net expenditure (purchases minus refunds) as an annual rebate, which is either credited to the credit card account or paid to the card holder separately, for example by cheque. Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... Typical cancelled personal cheque as used in the U.S. A cheque, or (in American English) check, thought to have developed from Persian Ú†Ùƒ chek, is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker...