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Wednesday, March 17th 2010
Credit Card Glossary

Credit Card Glossary: Terms and Definitions

Confused by credit card terms? CreditCards.com'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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Authorization only

An authorization only transaction is a transaction that is created to reserve an amount against a credit card's available limit for intended purchases; an authorization only transaction is intended for a merchant's protection, to assure that the credit card has a limit high enough to allow a transaction.

Related Terms:association, authentication, authorization, authorization date, authorized amount, authorized transaction, bank identification number (bin), carbon-paper packets, card issuer, card present transactions, card reader, charge-back, charge-back period, debit card, discount rate, discover card, encryption, floor limit, in-house, interchange fee, key, mail/phone order merchant, mail/phone order transaction, mastercard, mastercard acquirer, mastercard card, mastercard issuer, merchant agreement, merchant bank, per transaction fees, pin (personal identification number), point of sale (pos), post date, settlement bank, user authentication
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