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Thursday, February 9th 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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Zero balance
Zero balance is to have no debt on your credit card. Depending on how long you've had the credit card, how many accounts you have and the size of your credit limit, canceling the card due to a zero balance could hurt your credit score because you might lose some credit history from your credit report, and your debt if the credit reporting agency purges its records. However, if you continue to use credit cards wisely by showing consistent payments, the credit score damage from closing a zero balance card is small and brief.
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