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Credit Card Glossary

Credit Card Glossary: Terms and Definitions

Confused by credit card terms?'s glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.

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The 1099-C is an IRS form sent when credit card or other consumer debts are forgiven or canceled by creditors or debt collectors. Forgiven debt totaling more than $600 of the original debt is considered income by the IRS and potentially subject to taxes on federal income tax returns.