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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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Title loan
A type of loan that requires borrowers to surrender the titles to their vehicles to lenders as collateral. Only people who own their vehicles outright with no outstanding liens are eligible for title loans. The borrower is allowed to continue driving the car while he or she repays the title loan. If the borrower misses a payment, the lender can repossess the car or truck and sell it. These loans typically carry high interest rates compared to others types of loans.

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