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.
- Security interest
- A security interest is a claim on property. Lenders, including credit card issuers, may claim a security interest on collateral for a debt. Secured cards typically include a security interest on funds in an account linked to the card. A "purchase money security interest" is a type of security interest that applies to merchandise that is purchased with credit. The lender must get court permission before enforcing the claim by repossessing property.