Credit Card Guide
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Credit Card Glossary

Puzzled by credit card jargon? Browse the CreditCardGuide.com glossary for the definitions of common and confusing credit card terms.

Collection

In the credit world, collection is an effort by a collections department or agency to get a past-due debt repaid. Having a debt in collections shows up on credit reports, and badly damages the ability to borrow at reasonable rates.

 
     


 
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