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Today's News About Credit Cards


* Related Definitions, Terms and Acronyms:
  • Credit score purpose - attempts to quantify the likelihood that a prospective borrower will fail to repay a loan or other credit obligation satisfactorily.
  • ID-1 - the ISO 7810 format specifying a size of 85.60 × 53.98 mm (3.370 × 2.125 in.) commonly used for banking cards such as ATM cards, credit cards, debit cards, and so on.
  • Discover Cash Back Bonus - a percentage of the amount spent would be refunded to the account (as high as 1 percent), depending on how much the card was used.
  • Magnetic strip - on the back of a credit card, contains financial and account information about the account and the cardholder.
  • Loan - a type of debt in which the borrower initially receives an amount of money from the lender, which the borrower pays back, usually in regular installments, to the lender. Generally provided at a cost, referred to as interest.

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