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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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Joint credit

Joint credit is when two or more people share credit. Sometimes, it is used by couples when one person has little or bad credit, or they need to make a big purchase, such as a house. It is based on both people's combined assets, incomes and credit report and makes both parties responsible for repaying any debt. If couples enter into joint credit, they are both responsible to repay any debt. In that respect, it is different from having an authorized user on an account, an arrangement in which case only one person is responsible for repayment.

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, double-cycle billing, 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, 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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