What does Open Loop mean?
Open loop cards are those cards which have generally accepted use, meaning these are accepted almost anywhere. The most popular type of such cards carries the logo of brands as Visa or MasterCard. Particularly enjoyed open loop cards are the gift cards nowadays, which gives the card holder a free hand in choosing the store of his/her choice for making the purchases. The opposite of open loop cards are the closed loop cards which’s use is more restricted, in the sense these can be used only in specific department stores.