Credit Cards   Visa credit cardsMasterCard credit cardsAmerican Express credit cardsDiscover credit cards

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.
#  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z

Open loop

Open loop is a term used to describe general purpose cards that carry the American Express, Discover, MasterCard or Visa logo and can be used wherever those cards are accepted. Closed loop cards, by contrast, can be used only in a single store or group of stores.

Related Terms:alternative methods of payment (amop), authentication, authorized amount, bank card, blocks, breakage, breakage, card reader, cash card, chip and pin cards, closed loop, credit card number, deadbeat, debit card, distributor, dormant account, floor limit, gift card, hold, in-house, issuer identification number (iin), man in the middle fraud, payments network, prepaid cards, private label, processor, program manager, reloadable card, rfid, signature strip, smart card, spoilage, transaction identifier, transactor, void transaction, zip-zap machine
USA (English)   |   USA (Español)   |   UK   |   Australia   |   Canada