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)
Sales draft Sales draft is a paper record that documents the purchase of goods or services by a cardholder.
Satisfaction and release A satisfaction of judgment, also called a satisfaction and release, is an official proof of court's judgment fulfillment. In a debt collection case, winning creditor signs the satisfaction and...
Savings and loan association A savings and loan association is a financial institution whose prime function is to take in deposits and fund mortgages. But they can also issue credit cards. They are also known as thrifts, and are...
Savings bank Their main function is to stimulate thrift by paying interest dividends on savings they can also issue credit cards. They can be state regulated the banking agency of the state where it is...
Schumer Box The Schumer Box is named for the then-chairman of the Senate Banking Committee that passed landmark consumer protection legislation, Sen. Charles Schumer. This standardized disclosure "box" has a...
Score factor Score factors, also called reason codes or adverse action codes, are numerical or word-based codes that describe the reasons why a particular credit score is not higher. For example, a code might...
Secured credit cards Secured credit cards require collateral for approval often a deposit with the issuer. The amount of cash is usually the spending limit on the card. People with no or poor credit use these cards. Some...
Secured debt A secured debt is one where an individual gives property, usually a home, car or cash, as collateral. If the borrower is unable to pay off the loan, the lender can confiscate the property. 
Security code The security code is a short number printed on the card and is used for verification of cards legitimacy. It can be a three or four-digit number, printed on the back or the front of the card. The...
Security interest A security interest is a claim on property. Lenders and credit card issuers can collect a security interest on collateral for a debt. Secured cards usually include a security interest on accounts...

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