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)
Radio frequency identification Radio frequency identification (RFID) technology is more and more used broadly from library books to key fobs that let office workers in their buildings to credit cards. Very short range radio...
RAM scraping attack It is a criminal process of hacking a merchant's point-of-sale system and obtaining its card payment records while they are processed inside the terminal.
Rate tart Rate tart is a phrase used in the UK for a person who frequently transfers balances, with a goal of maintaining the lowest possible rate. When credit shrinks, rate tarts can be forced into interest-...
Re-aging, or re-age Re-aging is process that refers to unpaid debt in a case when consumer makes a payment any payment or just verbally commits to pay a debt that has exceeded or is near the end of the statute of...
Reaffirmation Reaffirmation is a procedure that refers to someone in bankruptcy or default who agrees to continue to pay off a loan. If a person confirms that they owe the debt, or pay off some of it, that debt is...
Reason code Reason codes, also called score factors or adverse action codes, are numerical or word-based codes that explain why credit score is on a certain level. The codes are given to a customer with credit...
Receipt Receipt is a hard copy document that records transaction information at the point of sale. They include the amount, the date, the merchant name/location, the reference number and a portion of the...
Recovery room scams In a recovery room scam describes a fraud act where thieves contact individuals who were already tricked, and claim they can help the victim recover their stolen money if they pay an upfront fee. Of...
Recurring billing Recurring billing is a term for transactions on which a customer gives permission to the merchant to periodically charge his account for recurring goods or services.
Redlining Redlining is the illegal act of providing deferent treatment in lending, housing, insurance and other services based on the race of the individual. The term redlining originates from the time lenders...

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