Credit Card jargon

For just about anything you want to get off your chest about credit cards.
8 posts
jriley
Platinum Member
Platinum Member
 
Posts: 66
Joined: Tue Oct 30, 2012 7:10 pm
Location: Atlanta, GA

Credit Card jargon

Postby jriley » Mon Feb 11, 2013 12:18 pm

I'm trying to keep a master list of credit card jargon. Anything to add?
Looking to maximize credit, for myself and others.

Fidelity Investment Rewards
American Express Platinum for Morgan Stanley
Chase Sapphire Preferred


Moneytalks
Centurion Member
Centurion Member
 
Posts: 439
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Mon Feb 11, 2013 12:29 pm

That's helpful riley, thanks!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Feb 11, 2013 12:39 pm

I would add the terms:
AA = adverse action (such as closing your account, giving you a credit limit decrease, or increasing your APR)
CLD = credit limit decrease, something none of us like
CRA = credit reporting agencies (Experian, Transunion and Equifax are the most commonly used)
EXP = Experian
TU = Transunion
EQ = Equifax
APR = annual percentage rate or the amount of interest you are charged
DOFD = date of first delinquency something you don't want to really learn about, but the date on which your account becomes delinquent as far as the statute of limitations is concerned
SOL = not s*** out of luck, but statute of limitations, or when the debt collector can no longer win a judgement on you in court for a debt. More to this of course but that's what it means
PFD = pay for delete, getting a collector to agree to delete an item in your credit in returns to being paid for it

jriley
Platinum Member
Platinum Member
 
Posts: 66
Joined: Tue Oct 30, 2012 7:10 pm
Location: Atlanta, GA

Postby jriley » Mon Feb 11, 2013 4:02 pm

Added those!

Any more?
Looking to maximize credit, for myself and others.

Fidelity Investment Rewards
American Express Platinum for Morgan Stanley
Chase Sapphire Preferred

User avatar
Snowman
Centurion Member
Centurion Member
 
Posts: 630
Joined: Thu May 10, 2012 10:10 pm
Location: North Los Angeles County

Postby Snowman » Tue Feb 12, 2013 1:12 am

I would add some more

OP-Original Poster
YMMV- Your Mileage May Vary (basically what CC Deville, wrote, I'm quoting him.) It means what may work for me may not work for you and what may work for you may not work for me.
AFAIK- As far as I know
BT- Balance Transfer
AG- Attorney General
Baddie- You really don't want this on your credit reports..
BBB- Better Business Bureau
BK- Bankrupt
CA- Collection Agency. They will come after you like a shark looking for food. Not people you really want to talk to or meet
CO- Charge Off. Tells creditors that you didn't pay up and in turn they put a black mark on your CR's, so as to make it difficult to get more credit. Can lower score considerably.
CRO- Credit Repair Organization.
DH- Dear Husband
DOLA- Date of Last Activity.
DTI- Debt To Income.
DW- Dear Wife
FA- Fraud Alert.
Fako- Fake Credit score, if you want the actual one, they give it to you if you apply for a card or you can check out myfico and see what your EQ and TU scores are.
FC- Foreclosure.
FCRA- Fair Credit Report Act
FI- Fair Issac. The company that owns the formula that most creditors use when making decisions to grant credit or not.
FTC- Federal Trade Commission
FR- Financial Review. Amex is known for doing this and if you don't comply, say goodbye to Amex membership until you decide to let them see your tax transcripts. Known for shutting down accounts until they are unfreezed.
FWIW- For What It's Worth
GW- Good Will. Common acronym for those who are/were rebuilding and trying to make things right with their creditors.
HELOC- Home Equity Line Of Credit
HIPAA -Health Insurance Portability and Accountability Act
HP- Hard Pull. Inquiry. Like 99 said, it is a crime on Myfico to have so many of these. But as long as you dont ask for too much credit in a short time span you should be okay. After a year the effect is less on getting approved and they are generally wiped away from the CR's after 2 years.
IIB- Included in Bankruptcy
IIRC- If I Recall Correctly
IME- In My Experience.
IMHO- In My Humble Opinion
IMO- In My Opinion
ITS- Intend To Sue
LOC- Line Of Credit
OC- Original Creditor Or Collector
PC- Product Change
PIF- Pay In Full (try to do this as much as you can so you wont have too much debt.)
PL-Personal Loan
PR- Public Record
TL- Trade Line. An Entry in your credit history
WO- Write Off.

I'm sure I missed a few but that is all I could remember and post.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

sakhalin
Centurion Member
Centurion Member
 
Posts: 249
Joined: Thu Jul 05, 2012 6:55 pm
Location: West Coast

Postby sakhalin » Tue Feb 12, 2013 3:09 am

Snowman wrote:BK- Bankrupt


Bankruptcy is a more fitting term in this case.
AMEX BCE ($20,000), Citi Forward ($6,800), Discover IT ($5,250), BoA Travel Rewards ($1,800)

jriley
Platinum Member
Platinum Member
 
Posts: 66
Joined: Tue Oct 30, 2012 7:10 pm
Location: Atlanta, GA

Postby jriley » Tue Feb 12, 2013 9:06 pm

Done.

All of these have been great suggestions! Thank you.
Looking to maximize credit, for myself and others.

Fidelity Investment Rewards
American Express Platinum for Morgan Stanley
Chase Sapphire Preferred

Square Obsidian
Gold Member
Gold Member
 
Posts: 44
Joined: Mon Feb 11, 2013 2:01 pm
Location: U.S.

Postby Square Obsidian » Sat Feb 23, 2013 9:19 pm

NPSL? No preset spending limit. Not sure if I saw that one.
Amex BCE $12,000 5/17
Chase Freedom $3,700 5/17
Discover it $1,250 5/17
CO QuickSilver $1,250 5/17



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests