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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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Closed loop
Closed loop is a payments industry term for a gift or credit card that can be used only in a single store or group of stores. Closed loop cards rarely have purchase fees, dormancy fees or other fees associated with the general purpose, open loop gift cards.