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)
Validation code Validation code is unique four-character code that VISA includes as part of the CPS/ATM program in every authorization action. This code guarantees that important authorization fields are saved in...
VantageScore A credit score product started in March 2006 by the three leading credit bureaus as a rival product to the FICO score. Like a FICO score, a VantageScore is a three digit number that determines a...
Variable interest rate With variable-rate cards, your APR (annual percentage rate) can change. In the US credit cards usually have variable rates, and most of them are tied to the prime rate. In your credit card terms and...
Visa Visa U.S.A. is one of the nation's major credit and debit transactions processors trough its payments network. VISA connects more than 13,300 financial institutions, 6.9 million merchant acceptance...
Visa card It is a card with a Visa symbol and allows a Visa cardholder to get goods, services or cash from a Visa merchant or acquirer, and their transactions are processed through its network. Visa itself is...
Visa issuer Visa issuer is a financial company that issues Visa credit and/or debit cards.
Visa merchant It is a merchant that has the Visa symbol displayed and accepts all Visa cards.
Voice authorization It is a response of approval that is reached through communication between an issuer and an acquirer, their authorizing processors or stand-in processing or through telephone, facsimile or telex...
Void A void erases a transaction that has been listed for settlement, but has not yet been settled. This removes it from the batch of transactions to be settled.
Void transaction Void transaction is a process of deleting the transaction information.