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Saturday, November 21st 2009
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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Card present transactions

Card present transactions are those in which a credit card is physically present. Merchants are charged different levels of fees by the card transaction proccessors (such as Visa, MasterCard), depending on the level of fraud risk. Card present transactions, because the card is available for inspection, are considered less risky and therefore carry lower fees than online or phone transactions.

Related Terms:approval response, association, authentication, authorization, authorization date, authorization only, authorized amount, authorized transaction, bank identification number (bin), carbon-paper packets, card issuer, 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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