Credit, Loans & Mortgages

  1. Never Pay Strategy

    A colloquial term used to describe an individual who opens a credit card account, makes purchases on the card, and lets the ...
  2. Deficiency Balance

    The amount owed to a creditor if the sale proceeds from the collateral that secured a loan is less than the outstanding loan ...
  3. G.19 Report

    A monthly statistical report from the U.S. Federal Reserve that shows outstanding credit extended to individuals for household, ...
  4. Processing Date

    The month, day and year when a merchant’s bank processes a credit or debit card transaction that has been authorized between ...
  5. Settlement Bank

    The entity that facilitates the exchange of money between the banks that issue consumers’ cards and the banks that manage ...
  6. Sales Draft

    A record indicating that a cardholder has made a purchase.
  7. Trade Line

    Credit account records that are provided to credit reporting organizations.
  8. Transaction Authentication Number (TAN)

    A one-time code used in the processing of online transactions.
  9. Prepaid Cards Processor

    A company that processes transactions for prepaid payment cards.
  10. Point-To-Point Encryption (P2PE)

    Devices, applications, and processes that keep payment card information secure from the point that the card is swiped until ...
  11. MasterCard Acquirer

    A financial institution that accepts and processes transactions made with a MasterCard card.
  12. Furnisher

    A company that provides information about a consumer, including credit history, to a credit bureau.
  13. Semi-Secured Credit Card

    A type of credit card offered to individuals who carry a higher credit risk.
  14. Issuer Identification Number (IIN)

    A numbering system that allows a credit, debit, or other card to be identified as having been issued by a particular financial ...
  15. PIN Cashing

    A type of fraud in which a stolen credit card or debit card is used to gain access to the cardholder’s bank account.
  16. PCI Compliance

    Technical and operational standards that businesses are required to adhere to in order to ensure that cardholder data is ...
  17. Credit Card Authorization Key

    A code used in credit card transaction authorizations that confirms that the cardholder has enough funds to make a purchase. ...
  18. How can a company hedge with currency swaps?

    Read a brief overview of how currency swap exchanges function, why a swap bank is necessary, and how the parties involved ...
  19. Unsecured Loan

    An unsecured loan is based on the creditworthiness of the borrower, and has no collateral securing the loan.
  20. How Microfinance and Investment Banking Compare

    Investment banks and microfinance institutions (MFIs) provide similar services, but the clients they serve and the incentives ...
  21. How do I obtain a banker's acceptance?

    Find out how to obtain a banker's acceptance, why you should treat it like a short-term loan and when you would most likely ...
  22. Can small investors buy collateralized mortgage obligations (CMOs)?

    Read about collateralized mortgage obligations and their relationship with small investors, plus what risks small investors ...
  23. Per Transaction Fees

    An expense a business must pay each time it processes a customer’s credit or debit card transaction.
  24. Satisfaction And Release

    Formal paperwork stating that a consumer has paid the full amount owed under a court judgment.
  25. Conjoined Account

    An account that has more than one account holder.
  26. Primary Account Number (PAN)

    The 14, 15 or 16 digit number that appears on the primary account holder’s credit card.
  27. Carding Forum

    A website dedicated to the sharing of stolen credit card numbers.
  28. Approval Response

    An approval code sent to a point of sale terminal that verifies that a credit or debit card has sufficient funds to make ...
  29. 5 Times Cash Rewards Credit Cards Come In Handy

    Using a credit card with cash rewards during emergencies can help you get through tough times, buy you time to pay off costs ...
  30. Schumer Box

    A table that appears in credit card agreements showing basic information about the card’s rates and fees.
  31. Batch Credit Card Processing

    The process of a merchant processing all of its authorized credit card transactions for the day after the close of business.
  32. Credit Card Posting

    Adding recent transactions to a consumer’s credit card account.
  33. Merchant Agreement

    A contract between a business and a credit card service provider.
  34. American Express's Main Competition

    American Express competes with Visa, MasterCard, and Discover Financial Services in the credit card space. It also competes ...
  35. How do I decide whether a credit card offer is a good deal or not?

    Understand which aspects of a credit card agreement make accepting a new credit card offer a good deal or one that should ...
  36. How do I negotiate a lower annual percentage rate (APR) with my credit card company?

    Understand why it's necessary to negotiate lower interest rates on your credit cards, and learn the techniques you can use ...
  37. How legitimate are companies that advertise debt consolidation for all my credit cards?

    Discover whether companies that advertise debt consolidation services are legitimate. Some may take advantage of people who ...
  38. What are the risks involved in a banker's acceptance?

    Find out what a banker's acceptance is, how it works, and why it should be considered a safe and liquid money market instrument.
  39. Stipulated Judgment

    A court order that requires one party to pay another party a specified amount of money.
  40. Mixed File

    A credit bureau record that contains more than one consumer’s information.
  41. Open Loop Card

    A credit card, debit card or gift card that a consumer can use to make purchases anywhere that card is generally accepted.
  42. Re-Aging Debt

    Restarting the clock on a debt’s statute of limitations.
  43. Total Finance Charge

    The amount of money a consumer pays for borrowing money on a credit card.
  44. Credit Cards That Will Get You First Class Flights

    It's getting harder and harder to be upgraded to first or business class on airlines. Here are some credit cards that may ...
  45. Dos And Don'ts Of Selling A House

    Tips for selling your house in the shortest time possible and for the best price
  46. Why are simple-interest loans preferred by payday loan companies and pawn shops?

    Read about simple interest loans, how they function, and some of the loan products or contracts that are most likely to carry ...
  47. What are some reasons banks deny applications for checking accounts?

    Learn what information banks keep on file for their customers, and understand how this information can be used to deny an ...
  48. How does revolving credit differ from a general line of credit?

    Understand what a revolving credit account is and what a general line of credit is, and learn the differences between the ...
  49. How can I calculate compounding interest on a loan in Excel?

    Find out about compound interest and how to use the compounding interest formula in Microsoft Excel to calculate the compound ...
  50. Swimming Pools: Costs Vs. Long-Term Value

    Consider the costs of installing and maintaining a swimming pool, and compare this with the pool's utility and the market ...
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