Credit Card Glossary

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

PMI

Private mortgage insurance (PMI) is insurance that is required when you take out a mortgage and make a down payment that is less than 20 percent of the cost or appraisal value of the house you are buying. If protects the lender if the homebuyer defaults on the mortgage.