Understanding the jargon around credit cards and credit card banking can help you make the most of your credit card. We’ve compiled a glossary of the most commonly used credit card terms.

  • 0-9
    128-Bit Encryption
    The highest level of encryption provided by major browsers today. 128-bit encryption is more than 300 x 1024 times more secure than 40-bit encryption.
    3D Secure
    3D Secure is a free service that protects your online credit and debit card payments. By registering and creating a personal password it ensures that only you can use your cards online. To find out more and register for this service go to and click on the 3D Secure link. Once registered you will have access to a history of your payments that have been authenticated with 3D Secure.
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  • A
    Additional Cardholder
    A person who is issued with a credit card and who has full charging privileges on the main cardholder's account, but is not responsible for the repayment of the balance on the account.
    Annual Fee
    The amount that some companies charge once per year for using their card. Not all cards have this charge. Cards with an annual fee often have better benefits than those without. Avantcard do not charge an annual fee.
    Anti-virus software
    Software installed on your computer that protects it against online viruses.
    APR (Annual Percentage Rate)
    This is the percentage rate of interest calculated on an annual basis. It is the rate that will be applied after an introductory offer period has ended. It is normally the rate applicable for card purchases.
    A document or program that is attached to an email.
    Approved transactions for which funds have been set aside. Once a transaction is transmitted through the credit card system, the pending amount will be replaced by an actual charge. If the charge is cancelled and not processed through the credit card system, the pending transaction will be removed from your account approximately 14 days after it was authorised.
    Available Credit
    Your current credit limit less your current outstanding balance and any authorised but pending transactions (including Temporary Authorisations).
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  • B
    Balance Transfer
    Transferring a balance from one credit card to another.
    A method by which frequently used or useful Web pages can be remembered so that you can return to them at a later date without having to remember the actual Web address.
    A program that lets the user browse internet pages such as Internet Explorer or Firefox, Chrome and Opera.
    Business Days
    Monday - Friday 9am to 4pm except any day that is a bank or public holiday in Ireland.
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  • C
    Card Purchase
    A purchase you make using your credit card. Also known as a retail transaction.
    Cash Advance Rate
    The rate of interest charged for using the card to withdraw cash - across the counter in a bank, or from a cash dispensing machine (ATM) etc. There is usually a fee charged to withdraw cash, and interest is charged from the date of withdrawal.
    Cash Advances
    The process for obtaining cash through your credit card. As an AvantCard Customer, you can receive cash advances against your available credit in one of four ways:
    • Bank Branch Withdrawal Present your credit card and identification at any bank that accepts MasterCard® or Visa® Credit Cards.
    • ATM Cash Withdrawal Use your AvantCard Credit Card and your 4-digit personal identification number (PIN) at hundreds of thousands of ATMs in most countries that display the MasterCard®, Visa® or American Express® logos.
    • Balance Transfer - To request a Balance Transfer you can call our Customer Service Team on 0818 211 782 Monday to Friday 8am - 8pm, Saturday 8am - 2pm.
    • Money Transfer -  To request a Money Transfer you can call our Customer Service Team on 0818 211 782 Monday to Friday 8am - 8pm, Saturday 8am - 2pm. Fees are charged for branch and ATM withdrawals.
    Chip And Pin
    A unique four-figure number which is provided for your use only, and must use when you spend with your card.
    A 'cookie' is a set of information sent to your browser by a Web server. Cookies enable information to be stored in and retrieved from your browser. This can make surfing easier, faster, more personal, and more efficient. You can set your browser to warn you before you accept cookies or not accept them at all. Check your (advanced) browser settings. Keep in mind that some secure sites will not work if you don't accept their cookies.
    Credit Card Issuer
    The bank, building society or company that issues your credit card. The issuer may have an arrangement with another organisation to put that organisation's logo onto the card. E.g. football credit cards with the club’s logo.
    Credit Card Verification Code (CVC)
    MasterCard, Visa, Diners Club credit and debit cards have this security codeas an added layer of security. It includes a three digit number on the back of your card (usually the last three digits on the signature strip).
    Credit Limit
    The maximum amount you may borrow through spending on the card, and is set by the lender. If you go over this limit, your card may be refused and you will normally have to pay default charges.
    Credit Scoring
    A system which is used to decide whether to provide you with a card, and what your credit limit should be. Credit scoring works by awarding points to the information you provide on your application form and to the information recorded on your credit report (held by the Irish Credit Bureau). For more information on managing your credit effectively browse our understanding credit section.
    Refunds and payments that are applied to your account. One example of a refund is a merchant credit for returned merchandise.
    Current Pending Transactions
    Transactions that have been approved, for which funds have been set aside. Once a transaction is transmitted through the credit card system, the pending amount will be replaced by an actual charge. If the charge is cancelled and not processed through the credit card system, the pending transaction will be removed from your account.
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  • D
    Debit Card Payment

    A payment made online to your Credit Card, with your Debit Card/Laser Card. Remember to allow time for your payment to credit your account:

    ​If your Payment is submitted: It will show on your account on:​ With a payment transaction day of:​​
    ​Friday after 4pm to Monday
    before 4pmf*
    ​Tuesday ​Monday
    ​Monday after 4pm* Wednesday​ ​Tuesday
    ​Tuesday before 4pm* ​Wednesday​ ​Tuesday
    ​Tuesday after 4pm* ​Thursday ​Wednesday
    ​Wednesday before 4pm* ​Thursday ​Wednesday
    ​Wednesday after 4pm* ​Friday ​​Thursday
    ​Thursday before 4pm* ​Friday ​Thursday
    ​Thursday after 4pm* ​Saturday ​Friday
    ​Friday before 4pm* ​Saturday ​Friday
    Your payment will be completed within 1 business day unless your request is received after 4pm, on a weekend/bank holiday when it will take an extra business day.


    To transfer a copy of a file that resides on another computer to your computer.
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  • E
    An electronic form that can be used to request additional services or changes to your account. The contents of an e-form are encrypted to protect your information, thus providing more security than email.
    Electronic mail carried on the Web. An email programme may be provided by your Internet Service Provider.
    A method for ensuring the privacy and security of a Customer's personal information when transmitted across the Internet. Encryption is the process of transferring information from one system to another without anyone but the intended recipient being able to view that information. Consumers should make sure it is being used when sending sensitive information. In Internet Explorer, you can tell if pages are secure when a closed padlock appears at the bottom of the window.
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  • F
    An online document that answers the most frequently asked questions on a certain subject. View our FAQs.
    A network security system used to prevent unauthorised access attempts.
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  • G
    Government Tax
    Each year the government charge a tax (stamp duty) on all cards issued by financial institutions. The duty is applicable to each unique card/account you have in your own name, the amount of tax due changes from year to year depending on the amount set in each budget. Current rates and further details can be found at the Revenue Commissioners website.
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  • H
    Accomplished technical computer operator who breaks into computers or networks for illegal purposes.
    Handling Fee
    A fee charged for certain transactions for example Cash withdrawals usually a percentage of the amount transferred.
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  • I
    Identity Theft
    The crime of impersonating someone for a financial or criminal gain.
    The amount you'll pay on any money you still owe after the interest-free period each month.
    Interest-Free Period
    The time between when you buy something on the card and the payment due date on the statement on which the purchase first appears. This can be 50 days or more and is interest-free for that purchase if you settle your bill in full and on time every month, so it's free borrowing.
    Introductory Rate
    Many providers offer special introductory rates to gain your business. For example, an introductory rate of 0% on balance transfers, which then reverts back to a higher standard rate after a certain time usually at the end of the promotion period.
    IP Address
    A unique numbered address that is used to identify a computer on the internet. E.g. IP 123.345.456.
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  • K
    A word you might use to search for a Website. For example, searching the Web for the keywords "Internet Banking" will help you find this site.
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  • L
    Last Payment Date
    The date that the last payment was received on your account.
    A link will take you from one Internet site to another with just a click of your mouse. Links can be textual or graphical and will usually be underlined and often a different colour from the rest of the text on your screen. A graphic link usually has a frame around it.
    Log On/Log Off
    The act of connecting to or disconnecting from the Internet or a specific Website.
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  • M
    Macro Virus
    A virus attached to common computer application such as Microsoft Word.
    Main Cardholder
    The person responsible for the repayment of the account balance. This person is listed first on the account.
    Manage Account
    A secure method for you to request specific services and changes to your account. Make your selection from the available choices. Note: The number of available choices may change depending on the status of your account.
    Microsoft® Money
    A popular commercial software package for home and small-business accounting and money management. Find out more about Microsoft Money.
    Minimum Payment
    This is the contractual minimum amount you must pay off each month. Generally, this is a percentage of the credit card statement balance. If you only pay the minimum it could take you a long time to pay off your balance. We recommend you pay more than the minimum payment.
    Money Transfer
    Transferring money from your credit card to your current account.
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  • N
    No Statement Generated
    An indication that there was no activity and a zero balance on your account for a specific month. No statement is generated in this circumstance.
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  • O
    Outstanding Balance
    The total amount you owe on your card.
    Overdue Amount
    The total amount of scheduled monthly payments that has not been received by the required due dates, in accordance with your AvantCard Credit Card Agreement.
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  • P
    A word or code known only to a particular user that serves as a means of access to protected data on a secure Website (usually requested along with a user name).
    Payment Due Date
    The date on which your next payment is due. At least your minimum payment must be cleared onto your account before this date to remain in compliance with your AvantCard Credit Card Agreement. Accounts with payments received after the due date are subject to late fees.
    An attempt at identity theft using a fake website that looks identical or similar to the genuine website you are used to using.
    This acronym stands for Personal Identification Number. You must have your PIN when making purchases or when you withdraw cash from an ATM machine.
    Pop Up
    A small window which appears above a website in the form of an advertisement.
    Posting Date
    The date that a transaction is posted to your account. This date may be later than the Transaction Date.
    Promotional Rate
    An advertised interest rate usually linked to an introductory offer on new accounts e.g. 0% on balance transfers for 12 months or 0% on card purchases for 12 months. Some issuers offer promotional rates to existing customers from time to time, not just for new accounts.
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  • R
    Rate Code
    This is the code of the rate applied to your transaction.
    Retail Transaction
    A payment you make using your credit card in a shop or online (also known as a card purchase).
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  • S
    Secure Website
    A Website where preventative measures are in place to protect data from unauthorised access. You may access protected data on Online Card Services only by typing in your user name and password.
    A computer system that manages and delivers information for client computers.
    Junk email that you have not requested from the distributor.
    Forging emails to acquire a valid password to gain unauthorised access to a computer.
    The leading security protocol on the Internet today. SSL was developed by Netscape™. This protocol allows for the secure transmission of information submitted by a user from a desktop computer to a Website and vice versa.
    Your monthly credit card bill that shows what you've spent, what you owe, the minimum you must pay, previous payments and the latest date you can pay it. As it only shows transactions made up until the date the statement was printed, it will not show any transactions you have made after this.
    Statement Date
    The date that your credit card issuer compiles, totals and produces the statement of that month's transactions (if any) and outstanding debt. It is not the date that you actually receive the statement nor your payment due date.
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  • T
    Temporary Authorisation
    A temporary authorisation is a transaction that has been approved but has not yet been officially posted to your account. The value of the transaction has been deducted from your available credit limit and is included within your current balance. Normally, a temporary authorisation converts into a posted transaction. However, a temporary authorisation may expire if the merchant does not complete the transaction, this will then be removed from your balance and available credit limit.
    Total Payment Due
    The minimum amount due for that month plus any amounts that are overdue from previous months' minimum payments.
    Transaction Date
    Usually the date that you authorise a merchant or bank to process a transaction on your credit card account.
    A computer program or email attachment that appears to be useful but is actually harmful and may include a virus.
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  • U
    Uniform Resource Locator (URL)
    The URL is the 'address' of a Website, such as
    User Name
    An unique name that identifies and authenticates a user in order to permit access to a secure Website (usually requested along with a password).
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  • V
    A code written to spread from one computer to the next, damaging hardware or used to access your computer for criminal purposes.
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  • W
    Web Browser
    A software program that allows you to surf the World Wide Web and access other Internet features. Popular browsers include Google Chrome, Mozilla Firefox and Microsoft® Internet Explorer.
    Withdrawal Limit
    This is the maximum amount of cash advance that you will be allowed to withdraw at a cash machine or over the counter in a bank, on any one day. For example, the limit might be €250.
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