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)
Earnings Withholding Order A legal term used in California and a few other jurisdictions that means the same as wage garnishment order. The order legally obliges an employer to redirect some of an employee's earnings to a...
ECOA codes "ECOA" stands for Equal Credit Opportunity Act, which was passed by Congress in 1974 to prohibit discrimination in lending. ECOA-mandated codes are shown on credit reports. Code examples: "I" is an...
Electronic Fund Transfer Act The Electronic Fund Transfer Act is 1978 federal legislation that determines the liabilities and rights of clients who transfer funds are electronically. Customer protections involve a mandate that...
Elite qualifying miles Elite qualifying miles are frequent flier miles that calculated toward getting elite status with a specific airline. Elite status comes with extra benefits which are not available to other travelers...
Elite status Hotels and airlines offer elite status to those cardmembers who use them very often. In frequent flier programs, elite status is a level of benefits accessible to customers that obtain particular...
Emancipated minor An emancipated minor is an individual who is under aged but has by court order or actions become independent of adult supervision. An emancipated minor can enter into binding financial contracts,...
Embossed On most credit cards, the credit card numbers are embossed, that is, raised above the surface of the card. It is a manufacturing habit that was once necessary for making a physical impression of the...
EMV A set of specifications developed by Europay, MasterCard and Visa that determines elements needed for data exchange between payment chip cards and terminals to be successful.
EMV applications Programs stored on card chip that permits it’s use for payment, store financial value and receive/redeem rewards. American Express, Discover, MasterCard and Visa are leading application brands.
EMV card An EMV card, also called a chip-and-PIN card that uses computer chips to store and process information instead of/or with a magnetic stripe. A personal identification number (PIN) is needed to...

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