Credit Card Glossary

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

Debt management plan

A timetable for repaying debt, usually developed when a person works with a credit counselor. A credit card company or a lender may allow someone on a debt management plan to cut minimum monthly payments and take longer to pay off an account. A creditor may even agree to reduce the amount of the debt itself.