A credit card block is a restriction placed on a credit card account that prevents the cardholder from using the card for certain types of transactions. Credit card blocks are typically placed on accounts that have been flagged for suspicious activity or that are delinquent in payments. How do you unblock a blocked credit card? … Read more
A transactor is a person who completes a transaction, especially a financial transaction. What are the three types of credit card users? There are three primary types of credit card users: those who pay their balance in full each month, those who carry a balance and make monthly payments, and those who use their credit … Read more
A co-branded credit card is a credit card that is issued by a financial institution in partnership with a merchant or another brand. The cardholder earns rewards from both the financial institution and the merchant/brand when they use the card. Co-branded cards are usually associated with a specific loyalty program, such as airline miles or … Read more
A sales draft is a document that is created when a customer makes a purchase using a credit card. The sales draft includes the customer’s name, the date of the purchase, the amount of the purchase, and the credit card number. The sales draft is then sent to the credit card company for payment. How … Read more
The average daily balance method is a way of calculating interest charges on a credit card. It is calculated by taking the average of the balance of the account over the course of a billing cycle. This method is typically used by credit card companies to calculate interest charges, and is the method that is … Read more
The standard floor limit is the maximum amount per transaction that can be processed without requiring a PIN or other authentication. This limit is typically set by the card issuer, and may be different for physical locations vs. online transactions. What is a credit card floor? A credit card floor is the lowest credit card … Read more
A private label credit card is a credit card that is issued by a retailer and can only be used at that retailer. Private label credit cards usually have special benefits for cardholders, such as discounts or rewards. How do co-branded cards make money? There are a few ways that co-branded cards make money. The … Read more
IINs, or Issuer Identification Numbers, are the first six digits of a credit card number. They are used to identify the card issuer, and they can tell us a lot about a credit card. For example, IINs can tell us the card type, the card issuer, and the country of origin. IINs can be used … Read more
Balance protection is a type of insurance that can help pay off your credit card balance if you lose your job, become disabled, or die. It can be a good way to keep your family from having to worry about your credit card debt if something happens to you. What is TD balance protection insurance? … Read more
What Is a Credit Card? A credit card is a type of financial product that allows consumers to borrow money from a lending institution and then use that money to make purchases. Credit cards typically come with interest rates and other fees, which can make them expensive to use if borrowers don’t pay off their … Read more
