GLOSSARY

Payment Cap Payment due date Penalty APR Penalty Fees Periodic Rate Permissable purpose Personal Credit Personal credit history Personal Identification Number PIN PITI Point-of-Sale Points Pre approved line of credit Prepayment penalty Previous balance Prime Rate Principal Private label cards Promotional inquiry Public record
GLOSSARY TERMS by Alpha
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Point-of-Sale

An electronic payment system for retail goods and services, through the use of credit cards or debit cards that directly access and deduct funds from a customer?s checking account. Also known as POS.

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