The word transaction usually means an agreement between two parties for the transfer or exchange of goods or services for a monetary sum. A transaction takes place within businesses such as retail entities and places that provide services such as electricians and plumbers.

The transaction was complete when they paid for the plumbing services with their credit card. In this scenario someone paid for services rendered and the transaction occurred between two specific parties.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!