Glossary of Credit Card Terms

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G.19 report The monthly Federal Reserve client’s credit report includes different types of consumer debt, including revolving credit, a loan category consisting almost fully out of credit card debt, also a non-...
Garnishment Garnishment is a form of debt collection ordered by court where payment for credit is taken directly out of debtor's paycheck or other income are forwarded to a creditor or a court until a debt is...
Gift card A gift card is a type of stored-value payment card vastly issued by merchants and banks. Gift cards are preloaded with a desired amount. There are two leading types of gift cards closed and open loop...
Go-to rate The go-to rate is the interest rate that is charged on a credit card after the introductory period has passed.
Grace period The grace period is the period during which you can pay your credit card bill without having to pay interest. The Credit CARD Act of 2009 demands that grace periods last at least 21 days. The grace...
Gross pay An employee's total salary, including bonuses, commissions, overtime pay, etc. before income tax , Social Security, or other deductions are made
Guarantor A guarantor is an individual who signs an agreement to pay off a loan for another individual if they themselves can’t. It is a technique often used to help people with bad credit to get the loan by...