Definition: CBK refers to a type of credit card that operates on a cash-only basis, where payments are made in cash at point-of-sale machines or other payment terminals. This means that there is no credit required for purchases, making it more convenient and efficient than traditional cards with installment plans or credit limits. The term "CBK" stands for "Cash-Bound Credit", which highlights the fact that the user pays only the cost of the transaction in cash at the point-of-sale machine. As a result, users are not required to make any monthly payments to the issuer, reducing the amount of money that can be used as savings or debt repayment. In contrast, traditional credit cards typically require payment plans with different interest rates and fees based on the balance outstanding or minimum payments made. These terms may also include late fees, higher transaction charges, and additional fees for cash-only transactions.

CBK