Credit Card Glossary: Terms and Definitions
Under this type of credit card agreement, multiple parties share responsibility for debts accrued on the card. The exact details will depend on the issuer. American Express, for example, has previously explained that some of its business products offer “joint and several liability,” which holds both the business and owner responsible for an entire debt. Other combined agreements will allow two parties to share responsibility, either equally or otherwise.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.