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.

Keep and Pay
Keep and pay is a tactic that makes it possible for an individual who declares bankruptcy to maintain ownership of certain assets. You are able to avoid going to court, but since the debt is not on court documents, the individual is able to continue paying for the purchased item as agreed originally.
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