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Thursday, May 24th 2012
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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Mini-Miranda rights
The disclosures debt collectors must make to consumers who owe money. When first contacting debtors, debt collectors must inform the person in writing or verbally: 1) the amount of the debt, 2) the name of the creditor, 3) the fact that unless the consumer disputes the validity of the debt within 30 days, the debt will be considered valid, and 4) that the consumer can ask for verification of the debt. The name "mini-Miranda" is a reference to the Miranda rights statement law enforcement officers must give prior to arresting criminal suspects.
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