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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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Near Field Communication

Near Field Communication (NFC) is a wireless technology that allows data to be exchanged between two different devices -- say, a cellphone and a credit card terminal -- from a short distance away. If your phone has NFC, when you hold it near a properly equipped terminal, the phone and the terminal communicate, and the terminal communicates with a remote computer to approve payment.