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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PIN

Personal identification number used for security purposes on bank cards (also known as debit cards or check cards) and credit cards. The rightful owner is required to select and memorize a four- or five-digit numeric code, which is required to use the card at ATMs or other points of sale.

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