Credit Card Definitions For The Letters N, O, P, Q and R
A - B | C | D - F | G - M | N - R | S - Z
N
At this time we do not have any definitions listed for the letter N. If you would like to recommend a word please contact us.
O
Offline Debit Card - a new form of debit card that either has VISA or MasterCard logo and can be used anywhere a VISA or a MasterCard can be. This card does not have a line of credit it deducts the payment from a person's checking account.
Online Statement - a credit card statement that can be viewed over the Internet. Please refer to statement for more information.
Outstanding Balance - the amount of money a customer owes to a bank. This includes the principal and interest.
Over the Limit Fee - a charge for exceeding the limit of your credit card.
P
Periodic Rate - the interest rate for a specific amount of time usually either monthly or daily. It is determined by dividing the Annual Percentage Rate by the amount of time. For months Time = 12 and for days Time = 365.
Personal Identification Number (PIN) - a number code used like a password. You use this number to get cash from ATMs, and when you are talking to a customer service representative they may ask for your PIN for verification.
Pre-Approved - a person has only passed a preliminary screening. It does not mean a person is guaranteed a credit card.
Previous Balance - a way credit card companies determine how much interest is owed. It is the previous balance multiplied by the interest rate.
Previous Balance Method - same meaning as previous balance.
Prime Rate - the interest rate offered to the creditors best customers.
Q
Currently we do not have any definitions for the letter Q. If you would like to suggest a word please contact us.
R
Recent Activity - purchases a person makes after the billing cycle is over. These purchases will be included in your next billing cycle.
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