In skateboarding, it is when the board lands 90 degress between your legs and you land on top of it. Like a giant credit card between your legs.
Dave: AAAAAAAAAHHHHHHHHHHHH, my gooch
Little Bob: oooooo.. credit carded.
The extremely painful act of running a credit card between a guys balls.
Rick: Whoa, she must be pissed!
Jeff: Yeah man, she was so mad i thought she might credit card me!
Rick: thank god she didn't. I hear getting credit carded hurts like a bitch!