Credit Card Glossary: Terms and Definitions
Skimming is a method of stealing credit card information by using a small electronic device that scans and stores card data from the magnetic stripe. It can be done manually by a corrupt retail store employee who surreptitiously skims customers’ cards, or by criminals who place a skimming device on top of a regular credit card reader (usually at gas stations or ATMs machines). Stolen credit card information can be used to make fraudulent purchases online or to clone new cards.
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.