What is a plastic card issued by a card company that is used for payment or cash advances called?

The term for a plastic card issued by a card company that can be utilized for payment or cash advances is most accurately referred to as a "Payment Card." This category encompasses various cards, including both debit and credit cards, which facilitate transactions by allowing consumers to pay for goods and services or obtain cash from ATMs.

A payment card is a broad term that includes any type of card that enables the holder to initiate a transaction, whether via a debit from a bank account or a line of credit extended by the card issuer. Therefore, identifying a payment card simply as a "Valid Plastic Card" does not encompass the full range of functionalities and specific types associated with payment transactions.

In contrast, debit and credit cards are specific types of payment cards, with debit cards linked directly to the user’s bank account and credit cards allowing purchases on credit up to a certain limit. Understanding this terminology is key in the payments industry, clarifying both the types of cards and their uses in daily transactions.