Where is the CreditCardForum Glossary?

For just about anything you want to get off your chest about credit cards.
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Vattené
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Postby Vattené » Fri Nov 07, 2014 1:36 pm

Correct. In the context of that thread, it would be ridiculous to keep a card open that you have to pay for even though you don't use it just to have a higher overall available credit limit report, which in turn helps out your utilization ratio (at least it is ridiculous in my opinion; some people are willing to do it).
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now


Cre
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Postby Cre » Fri Nov 07, 2014 4:04 pm

Incredibly, I have stumbled on more terms for which there is no definition listed in our ad hoc glossary yet.

WEMC = ????

WMC = ???

SD, or when used as a past tense verb, "SD'ed" = ??

"Nerfing", or "Nerfed" = ????? (an action that a credit card issuer makes?)

IT = ?? (NOT related to Information Technology in the context given)

MRP = ???

U/W = ??? (related in some way to Barclay's bank?)


Thanks for your help in advance in figuring out this foreign language!
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

Nixon
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Postby Nixon » Fri Nov 07, 2014 4:15 pm

Cre wrote:Incredibly, I have stumbled on more terms for which there is no definition listed in our ad hoc glossary yet.

WEMC = [color="DarkGreen"]World Elite Mastercard.[/color]

WMC = [color="DarkGreen"]World Mastercard[/color]

SD, or when used as a past tense verb, "SD'ed" = [color="DarkGreen"]Sock Drawered -- To not use.[/color]

"Nerfing", or "Nerfed" = ????? (an action that a credit card issuer makes?) -- [color="DarkGreen"]To reduce the benefit of the card.[/color]

IT = ?? (NOT related to Information Technology in the context given) [color="DarkGreen"]Discover It[/color]

MRP = [color="DarkGreen"]Membership Rewards Points.[/color]

U/W = [color="DarkGreen"]Underwriter/Underwriting.[/color]


Thanks for your help in advance in figuring out this foreign language!


Read what's in green.
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Cre
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Postby Cre » Fri Nov 07, 2014 4:29 pm

Nixon wrote:Read what's in green.


Awesome! Thanks Nixon. It's kind of incredible (to me at least) that you could rattle that off so quickly!
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

Nixon
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Postby Nixon » Fri Nov 07, 2014 4:36 pm

Cre wrote:Awesome! Thanks Nixon. It's kind of incredible (to me at least) that you could rattle that off so quickly!


No problem.

You'll get there one day :)
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Cre
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Postby Cre » Fri Nov 07, 2014 4:55 pm

Another glossary term to add:

4506-T = An Internal Revenue Service form to request a transcript of an Individual Federal income tax return directly from the IRS, presumably as proof of the return as filed with the IRS.

(I had to google this to understand one of Nixon's posts in another thread, but if this is something that is common in gaining or improving credit on cards, it probably belongs in our community glossary.)
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

Cre
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Postby Cre » Fri Nov 07, 2014 8:42 pm

New terms... thanks to Vattene:

SM = Secure Message (Some kind of Secret Method of encrypted communication with a credit card issuer online) (exactly how this is done is TBD)

TBD = To Be Determined (ok ok, I know y'all knew that one.)

3x CLI = Three times increase of the previously established credit limit. (I seriously wondered what that was when I read it yesterday. Nice to know now)
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

Cre
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Postby Cre » Sat Nov 08, 2014 11:23 am

New terms to learn:

SRS = ?? (appears to be another forum or message board?)

MF = ?? (appears to be another gathering of people interested in credit, but the venue was not discernible in the context given?)

NPSL = ???? (something to do with an American Express card?)


And here are some terms that have been figured out already:


CCF = Credit Card Forum (yay! I figured one out!)

MR = Membership Rewards

MRP = Membership Rewards Points
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

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PlyrStar93
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Postby PlyrStar93 » Sat Nov 08, 2014 11:55 am

Cre wrote:MF = ??

myFICO.
This is a site that you can buy credit reports and FICO scores. It also has a forum where several people here are posting or posted.

Some people there just take gardening too seriously. Some other people, on the contrary, are very addicted to getting credit even if they constantly say they are going to garden.

Cre wrote:NPSL = ???? (something to do with an American Express card?)

No pre-set spending limit.
This term is used in AMEX charge cards, as they don't set a fixed spending limit, but may approve/deny a charge at POS according to your current credit status. They actually have a spending power which is the max you can charge on the card at the time, but that limit is usually dynamic.

Visa Signature and WMC/WEMC may also have NPSL features, though they generally have a credit limit. It may be possible to charge more than the credit limit on NPSL VS/WMC/WEMC cards, and issuers may also use your credit status to determine if they approve the charge.

As far as SRS, I don't know what it is. Someone else should be able to explain this.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

Cre
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Glossary update # 141108

Postby Cre » Sat Nov 08, 2014 1:28 pm

Ok gang, since I don't want to have to keep flipping back and forth between two thread pages to keep all the terms in this growing Glossary up in one window, I've taken the liberty to edit and add to the major glossary that lobbythis posted on page one, and have incorporated all of the terms and definitions discussed in the posts before and since.

When I say I took liberties, I'm not kidding... so the more fastidious hobbyists among you might want to look this new glossary over and check it for accuracy, or for fun. That is, if reading a glossary can be considered fun. I put a couple of zingers in there to try and make it so.


3XCLI = 3 times Credit Limit Increase, a perk some AmEx customers can request after a certain number of days (61) of opening an account
4506-T = An IRS form to request a transcript of an income tax return
AA = Adverse Action
AA = American Airlines
AAoA = Average Age of Accounts
AFAIK = As far as I know
AF = Annual Fee
AG = Attorney General
AMEX = American Express
APR = Annual Percentage Rate
AR = Account Review
AU = Authorized User
BADDIE = Any negative or derogatory item on your report
BBB = Better Business Bureau
BCE = Blue Cash Everyday, a credit card by AmEx (can carry a balance)
BCP = Blue Cash Preferred, a credit card by AmEx (can carry a balance)
BK = Bankruptcy
BT = Balance Transfer
BTW = By the way
BUMP = Used by someone when they are looking for an answer to the thread, but have not received one yet
CA = Collection Agency
CBR - Credit Bureau Report
CC = Credit Card
CCC = Credit Card Company
CCCS = Consumer Credit Counseling Services
CFL = Consumer Finance Loan
CK = Credit Karma (a credit report information aggregator)
CL = Credit Limit
CLD = Credit Line Decrease
CLI = Credit Line Increase
CMRRR = Certified Mail Return Receipt Requested
CO = Charge Off
CR = Credit Report
CRA = Credit Reporting Agency ( TransUnion, Equifax, Experian)
CRO = Credit Repair Organization
CRTP = Credit Reporting Time Period
CS = Customer Service or CreditSecure(R) (depends on context)
CS = Chase Sapphire
CSP = Chase Sapphire Preferred
CSR = Customer Service Representative
DD = Dear Daughter
Derog = Derogatory
DH = Dear Husband
DMP = Debt Management Program
DOFD = Date of First Delinquency
DOLA = Date of Last Activity
DS = Dear Son
DTI = Debt to Income
DV = Debt Validation
DW = Dear Wife
ED = (following DW, it’s not what you’re thinking) EveryDay, by AmEx
EDP = EveryDay Preferred, by AmEx
EQ (also EFX) = Equifax
EX (also EXP, XPN) = Experian
FA = Fraud Alert
FAKO = Generic credit score, not a true FICO
FC = Foreclosure
FCRA = Fair Credit Reporting Act
FDCPA = Fair Debt Collections Practices Act
FI = Fair Isaac
FICO = A for profit business, formerly known as Fair Isaac Co., that is publicly traded on the New York Stock Exchange. FICO collects big data, more than big brother ever dreamed of hoarding, and employs predictive analytics based on individual and statistically aggregated consumer data to create a hierarchal score of credit worthiness. This numerical score is used as one of several short hand decision tools by other business in granting, denying, or extending credit to consumers.
FR = Financial Review
FSR, FS&R = Friendly, Supportive & Respectful
FTC = Federal Trade Commision
FWIW = For What It's Worth
GC = Green Card from Certified Mail
GL = Good Luck
GW = Good Will
HELOC = Home Equity Line of Credit
HIPAA = Health Insurance Portability and Accountability Act
HP = Hard Pull
HTH = Hope This Helps
IIB = Included in Bankruptcy
IME = In my experience
IMHO = In My Humble Opinion
IMO = In My Opinion
INQ = Inquiry
IT = a credit card issued by Discover
ITS = Intend to Sue
JDB = Junk Debt Buyer
JK = Just Kidding
JMHO = Just My Humble Opinion
JMO = Just My Opinion
LOC = Line of Credit
LOL = Laughing Out Loud
LTV = Loan to Value
MF = myFICO, the consumer website run by FICO, for obtaining a FICO score
MOV = Method of Validation
MR = Membership Rewards
MRP = Membership Rewards Points
NERF, NERFED = The act of credit card issuers reducing the perks and benefits they originally advertised the card as having
NPSL = No Preset Spending Limit
NSA = The only government agency that really listens (and knows your credit history, and every movie you’ve watched)
OC = Original Collector or Original Creditor
OP = Original Poster or Original Post
OT = Off Topic
PC = Product Change
PFB = Planet Feedback
PFD = Pay For Delete
PIF = Pay in Full
PL = Personal Loan
PM = Private Message
POS = Point of Sale... sometimes the point when credit limit is determined or denied, especially for floating limit cards
POS = Piece of Something best “eliminated” out of sight. The lowest rating and most unfavorable review of a product, reduced to 3 letters
PP = Permissible Purpose
PR = Public Record
PRG = Premier Rewards Gold, by AmEx
RECON = Reconsideration
SD = SOCK DRAWER = Where you put CC's that you won't be using for a while
SM = Secure Message, an encrypted means of communicating electronically, utilized by financial institutions in lieu of regular email
SOL = Statute of limitations
SP = Soft Pull (a credit report review that doesn’t count as an inquiry)
SPG = Starwood Preferred Guest (Starwood is a hotel network)
RTC101T= Read the Credit 101 Thread
SW = ScoreWatch
TC = TrueCredit
TD = Turned Down
TL = Tradeline.. An entry in your credit history.
TU = TransUnion
UTL, UTIL = Utilization of debt to credit line
U/W = Underwriter, Underwritten
WEMC = World Elite Mastercard
WMC = World Mastercard
WO = Write Off
YMMV = Your Mileage May Vary
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs



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