Credit Card Definitions For The Letters D, E, and F
A - B | C | D - F | G - M | N - R | S - Z
D
Debit Card - a plastic card that a bank issues that allows a person to withdraw money from an ATM.
Debt Consolidation - instead of paying off several bills a month, this allows a person to only pay one bill.
Defaulted Account - is a credit card account when the customer has not kept their end of the agreement to the contract. A record of defaulted accounts is kept for six years after the customer breaks the agreement.
Delinquent Account - means a customer fails to repay any of their balance in three months, or a customer has been late on a payment for three months in a year.
Dishonored Check - payment has been denied to the person trying to cash the check.
E
Express Cash - a special program offered by American Express that allows you to use your credit card at ATMs.
F
Finance Charge - fees charged to a person's credit card for interest, late, over the limit, cash advance, or balance transfer.
Fixed Interest Rate - an interest rate that remains the same even if the prime rate changes. A credit card company can still change a fixed interest rate, but to do so they must tell you they are changing the rate.
Floor - the lowest rate possible for a variable interest rate. Even if the prime rate drops the interest rate will never go below the floor rate.
Foreign Spending - when you make a purchase in a foreign currency; the charge will automatically be converted to your country's currency by the rate of exchange on that day.
Fraud Protection - protects your credit card incase it is lost or stolen. You will not have to pay for any unauthorized purchases. Please read your credit card agreement to find the exact conditions of your fraud protection.
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