Credit Card Glossary: Terms and Definitions
Dormancy fees had been imposed by some banks on credit card accounts that go dormant or unused for a certain period of time. Once rarely used, dormancy fees gained popularity in late 2009 and early 2010 as banks sought ways to boost income in the wake of the Credit CARD Act’s passage. But when the final rules for the law came out, inactivity fees were banned. Dormancy fees are also called inactivity fees.
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.