Account
The total money owed to a credit card issuer. Purchases increase it, payments decrease it. Remaining balances cycle carry over to the next month.
Balance
A service that allows regular withdrawals from a checking or deposit account to automatically pay a credit card bill on its due date.
AutoPay
A credit card account that has exceeded its credit limit.
Over Limit
An account owned by two or more individuals, sharing the rights and liabilities. Issues like defaults, overdrafts, or fraud affect all parties.
Joint Account
A fraud monitoring system that constantly observes transactions to detect suspicious activity on debit and credit card accounts.
EnFact (Electronic Neural Fraud Analysis and Card Tracking)
The available amount to charge to a credit card account, which is the credit limit minus the outstanding charges on the account.
Available Credit
The transfer of money across an online network, either between financial institutions or directly from person to person.
Electronic Funds Transfer (EFT)
A transaction to withdraw or deposit funds to an account that has been submitted but not yet settled.
Pending Transaction
An individual issued a payment card and authorized to use it.
Cardholder
An electronic device or software that stores digital versions of payment cards, enabling payments without a physical card.
Digital Wallet
The amount of money that can be charged to a credit card.
Credit Limit
The time allowed to pay a credit card bill without interest. Must be at least 21 days by federal regulations.
Grace Period
A transaction to withdraw or deposit funds to an account that has cleared or settled.
Posted Transaction
An individual or business supplying products or services to consumers.
Merchant
An electronic device or software that stores digital versions of payment cards, enabling payments without a physical card.
Whisper Tone
A credit card account overdue by more than 30 days, where the cardholder has not made at least a minimum payment.
Delinquent Account
Interest charged when the full account balance is not paid by the due date.
Interest Charge
The process of submitting a request to return funds to a payment card after a transaction has been fully posted and settled.
Chargeback
A person who does not have any personal or business relationship with a cardholder
Third Party
The process of submitting a request to return funds to a payment card after a transaction has been fully posted and settled.
Chargeback
A cash loan from a credit card account using an ATM, bank withdrawal, or convenience check.
Cash Advance
The fee charged for missing a minimum payment by the due date.
Late Fee
The process through which a merchant obtains permission from the credit card issuer to accept a credit card as payment for a transaction.
Authorization
An individual allowed to use a credit card account but not legally responsible for the bill.
Authorized User
Reimbursement for a payment exceeding the current balance on a credit card account. Consumers can request a refund check or leave the credit for future purchases.
Credit Balance Refund