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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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Skimming
Skimming is a method of stealing credit card information by using a small, handheld electronic device that scans and stores card data from the magnetic strip. It can be done manually by a corrupt employee while out of sight (usually at restaurants or bars) or by criminals who place a skimming device on top of a regular credit card reader (usually at gas stations or ATMs machines) and retrieve it later. The stolen credit card information can be used to make fraudulent purchases online or for cloning.