(or Issuer)the bank who issues the cardholder the credit card and assumes the greatest risk. This banking entity approves the cardholder based on their credit, assesses his or her credit limit, sets his or her APR and terms, and then funds (advances) the Merchant money for the purchase in advance before actually being reimbursed by the cardholder within/after a grace period. (may or may not be where customer holds checking/savings, or institutions like Capital One, Discover, American Express, B of A, General Motors, Ford, Chase, Citibank, Shell Oil, etc.)
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