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Credit Card Vocab

Words used in the Credit Card Video

TermDefinition
Authorization The seller finds out that the buyer can pay for the purchase.
Capture The seller makes a claim on the buyer's credit.
Settlement The money is transferred from the buyer's bank to the seller's bank.
Debit Card A plastic card that when used automatically withdraws funds from an attached bank account.
Credit Card A plastic card that when used draws money from a line of credit that must be paid at a later date.
PIN Personal Identification Number- the password to use the debit card.
Created by: shahem
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