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Sunday, April 20th 2014

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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Co-signer
A co-signer is a person who signs an agreement to pay off a loan for someone else if that someone else defaults. Co-signing is a technique often used among family and friends to allow a person with good credit to vouch for a person with new credit or bad credit to get a loan. The presence of a co-signer makes lenders more willing to approve loans for high-risk borrowers. While co-signing allows the person with bad credit to get a loan, it puts the person with good credit on the hook for the entire amount borrowed.

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