DEFINITION of 'Country Club Billing'

A now-defunct billing system used by credit card companies up until the 1970s. Country club billing includes copies of the original sales drafts with each monthly statement sent to customers. This was done to provide proof of each purchase that was recorded on the card.

BREAKING DOWN 'Country Club Billing'

Country club billing was discontinued back in the 1970s due to rising costs and labor. It was replaced with a descriptive statement, which contained all of the information that was previously on the sales drafts. This system was much cheaper and faster to print and mail, and has been used ever since.

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RELATED FAQS
  1. How can I find an investment club in my area?

    Investment clubs have been around for several decades and are simply groups of people who get together to invest. While the ... Read Answer >>
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    Learn about what a bank draft is and how it works, the circumstances under which a bank draft may be cancelled, and what ... Read Answer >>
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