Credit Card Glossary: Terms and Definitions
Forbearance programs are established by credit card companies to give temporary relief to overstretched cardholders. They can take several forms, among them: postponing payments for six months to a year or even longer; lowering minimum payment monthly payments; reducing interest rates; eliminating some fees. Forbearance is not forgiveness — consumers still must repay the credit card debt.
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.