Glossary of Credit Card Terms

Below is a list of credit card and credit industry terms which can assist with reading credit card statements as well as the fine print on credit related documents.

Hard Inquiry
A hard inquiry is an indication on an individuals credit score that someone has asked for a copy. They are the result of an individual who applies for a loan or a mortgage. The hard inquiry has a minuscule negative impact on a persons credit score.
A hold occurs for example when a person checks into a hotel or rents a car and the issuer will charge an estimated amount until the final amount is determined. The final amount can be released within minutes or hours or even days.
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