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Friday, November 20th 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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Double-cycle billing

Double-cycle billing is the balance computation method used by some issuers that allows them to apply interest charges to two full cycles of card balances, rather than the most recent billing cycle's balances. Two-cycle billing effectively eliminates the grace period for people who paid off a balance in the previous month. Double-cycle billing was heavily criticized by consumers and federal regulators banned the practice, beginning in July 2010. Also called two-cycle billing.

Related Terms:1099, 1099-c, adjusted balance, annual fee, annual percentage rate (apr), application, apr, arbitration, average daily balance, balance-to-limit ratio, bank holding company, bankruptcy, basis point, billing statement, card member agreement, carders, carding, carding forums, cashing, chapter 11 bankruptcy, chapter 13 bankruptcy, cob fraud, community property, credit card, credit card accountability, responsibility and disclosure act of 2009, credit card act of 2009, credit card number, credit history, credit union, dd (regulation dd), debt, direct mail, drop, dump, equal credit opportunity act (ecoa), equitable division, fair credit billing act, fair credit reporting act, federal deposit insurance corporation, federal funds rate, federal reserve board, finance charge, float, foreign transaction fee, fraud alert, fraudulent transaction, fraudulent user, fulls, grace period, index, interest rate cap, introductory period, introductory rate (or intro apr), issuer, joint account, joint credit, line of credit, magnetic stripe, man in the middle fraud, mandatory binding arbitration, medical identity theft, minimum finance charge, minimum payment, monthly periodic rate, mutual savings bank, national bank, new balance, nondischargeable debt, payment due date, penalty rate, phishing, pin (personal identification number), pin cashing, prime rate (or prime interest rate), receipt, regulation dd, regulation x, savings and loan association, savings bank, schumer box, signature strip, skimming, thrift, time-barred debt, tranche, truncation, truth in lending act, truth in lending act, truth in savings act, two-cycle billing, universal default, utilization ratio, wage garnishment, x (regulation x), z (regulation)
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