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.
- Purchase money security interest
- A purchase money security interest is a specific type of security interest, or claim on property. Lenders, including credit card issuers, may claim the right to repossess items bought with borrowed funds, up to the amount borrowed. The lender must get court permission before enforcing the claim.