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Glossary
We realize some of the credit wording the banks use can get confusing. We've put together this glossary to help you better understand commonly used words, phrases, and acronyms in the credit industry.

Glossary

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	Offline Debit Card
	An offline credit card shares the same traits of both ATM and credit cards. Offline debit cards have the VISA or MasterCard logo on them and can be issued by any bank, instead of, or in addition to, an ATM card. They can be used at any establishment that displays the VISA or MasterCard logo, but using them does not access a line of credit -- it debits a customer's checking account, but there's a delay of 24 to 72 hours before the debit is made to the account.

	Online Debit Card
	An online debit card deducts funds from the cardholders bank account immediately as the card is used. It may have the VISA or MasterCard logo, or the issuing bank's logo, like an ATM card.

	Opt In
	A borrower can opt in to prescreened credit and insurance offer lists, direct marketing lists and/or individual reference service lists. A borrower's name is automatically put on these type of lists by the CRA's and the borrower can opt in if they change their mind after they have opted out.

	Opt Out
	A borrower can opt out of the CRA's prescreened credit and insurance offer lists, direct marketing lists and/or individual reference service lists. The CRA's must remove the borrower's name from all current and future lists.

	Origination Fee
	An origination fee is a charge by a lender to cover certain processing and research expenses incurred in the making of a real estate loan. It is usually a percentage of the amount loaned.

	Over The Limit Fee
	An over the limit fee is charged for exceeding the credit limit on the card.

	Overlimit Fee
	A fee charged by a bank or credit card issuer when your credit card balance goes over your credit limit.