Bust-out - Credit Card Terms and Glossary

		Credit Card Glossary: Terms and Definitions
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Bust-out: A form of credit card fraud where individuals use stolen or bogus identification (Social Security numbers, etc.) to apply for at least four accounts. Once received, these credit cards are quickly maxed out to at least 80 percent of the available credit limit. Accounts typically become delinquent within three months and account holders never make payments on thousands of dollars in purchases.

Related Terms:buy here pay here car dealers, credit repair organizations act, never pay, straight-roller

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