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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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Fair Credit Reporting Act

The Fair Credit Reporting Act was enacted to govern how credit bureaus maintain, share and correct information in credit reports. It sets out, for example, a method by which consumers can force inaccurate information to be removed from credit files. A 2003 amendment to the act granted consumers the right to get a free copy of their credit reports yearly from each of the three major credit bureaus. See "Fair Credit Reporting Act: a guide to your rights" for more details.