Credit Card Glossary: Terms and Definitions
Tax deductible interest
Interest payments on consumer loans, including those on credit cards, used to be tax-deductible. The Tax Reform Act of 1986, signed into law by President Ronald Reagan, eliminated many tax shelters, but also eliminated the tax deduction for consumer loans — except for mortgages.
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.