Glossary of Credit Card Terms

(1) | 1 (1) | 3 (1) | 5 (1) | A (42) | B (28) | C (92) | D (44) | E (19) | F (33) | G (7) | H (3) | I (14) | J (7) | K (3) | L (10) | M (27) | N (12) | O (10) | P (43) | Q (2) | R (34) | S (43) | T (26) | U (9) | V (10) | W (2) | X (1) | Y (1) | Z (7)
Bad credit This phrase describes a lousy credit rating. Behavior that can damage your credit rating is late or skipped payments, spending over credit limit or declaring bankruptcy. Bad Credit can lead to future...
Balance The balance is the amount carried on a credit card account or credit line. If a client does not make monthly payments of that amount in full and the balance exceeds the billing period they will be...
Balance chasing A method of slicing the credit line accessible to a client while they pay out the balance on the card.
Balance transfer A balance transfer happens when the great balance of one or more credit cards is moved to a different credit card account. Clients usually do this when they want a lower interest rate. Some credit...
Balance transfer fee A balance transfer fee is a fee charged by a credit card issuer when transferring balance between two accounts. It varies from 1% to 5% of the balance amount. Caps on balance transfer fees were very...
Balance-to-limit ratio Balance-to-limit ratio is used when calculating credit scores. The amount of total available credit is measured against the credit being used. Maintaining a low ratio, or having little debt and a lot...
Bank A financial institution that can lend money, take in deposits or both. Credit card transactions usually involve multiple banks with different roles. One can issue a credit card to a client, the other...
Bank account A bank account, for a client, is where they place deposit, acquire loans or both. Bank accounts used to be essential for credit card or debit transactions, but now days with many prepaid products a...
Bank card A bank card is a payment card issued by the bank. It can be a debit card, where funds are prepaid before making any transactions or it can be a credit card with a loan. Can be spelled bankcard.
Bank holding company A bank holding company is a company that is in control of interest in one or more U.S. banks. Leading credit card issuers have a bank holding company in their corporate structure. Federal Reserve...

Pages