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Credit Card Glossary: Terms and Definitions

Confused by credit card terms?'s glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.

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Elite status
Hotels and airlines offer a top tier elite status to those credit cardholders who frequent them most often. In frequent flier programs, elite status is a level of benefits reserved for customers who reach a certain mileage threshold within a specified time frame. There are often multiple levels of elite status, with more benefits at each usage level. Privileges may include upgrades, access to airport lounges and preferred boarding and seating. Hotels have similar programs that win frequent guests upgrades and freebies.