Credit Cards · Tools · Glossary · L-terms · Layaway

Credit Card Glossary: Terms and Definitions

Confused by credit card terms? CreditCards.com'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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Layaway

Layaway plans are an old shopping tool that enjoyed a revival during the Great Recession, and has stuck around since. Instead of going into debt to purchase something from a retailer, consumers pay for the item over time by paying the retailer a regular payment. They pick up the item when they've made the final payment.