Credit Terms & Abbreviations You Should Know

5/24: Chase’s rule of not approving anyone for a new credit card if the applicant has been approved for 5 or more credit cards within the last 24 months

*insert other BoA rules*

AA – Adverse Action (against consumer by financial institution, including but not limited to: credit limit decreases, closure of accounts, and even negatives on credit reports)

AAoA – Average Age of Accounts

Amex- American Express

AoOA – Age of Oldest Account

AoYA – Age of Youngest Account

APR – Annual Percentage Rate

AU – Authorized User

AZEO – All Zero Except One. A method of reporting a balance on 1 account in order to maximize a credit score. This is because if you are showing no debt, your score will actually drop because you aren’t using your available credit

Baddie – A negative item on a credit report such as late payments

BBB – Better Business Bureau

BBP – Blue Business Preferred Card from American Express

BCE – Blue Cash Everyday from American Express

BCP – Blue Cash Preferred from American Express

BK – Bankruptcy

BoA – Bank of America

BT – Balance Transfer

Cap 1 – Capital One Bank

CC – Credit Card

CK – Credit Karma

CL – Credit Limit

CLD – Credit Limit Decrease

CLI – Credit Limit Increase

CO – Charge Off

CRA – Credit Reporting Agency

CSP – Chase Sapphire Preferred

CSR – Chase Sapphire Reserve 

CU – Credit Union

DC – Double Cash from Citi Bank

DD – Dear Daughter 

Derog – Derogatory

DH – Dear Husband

DM – Dear Mother

DP – Data Point

DTI – Debt to Income

DW – Dear Wife

EDP – Every Day Preferred from American Express

EQ – Equifax

EX – Experian

FAKO – A score that is not a real FICO score, a fake

FICO – Fair Isaac Credit Score

FR – Financial Review

FTF – Foreign Transaction Fee

Garden/Gardening – Taking a break from applying from anything credit related

HELOC – Home Equity Line of Credit

HP – Hard Pull/Inquiry

IIB – Included in Bankruptcy

LOC – Line of Credit

MR – Membership Reward points from American Express

NFCU – Navy Federal Credit Union

NPSL – No Preset Spending Limit, this applies to charge cards that do not have a traditional credit limit. Typically seen on some of American Express cards

PC- Product Change

Penfed – Pentagon Federal Credit Union

PFD – Pay for Delete

PIF – Pay in Full

PLOC – Personal Line of Credit 

POI – Proof of Income

Recon – Reconsideration (typically on credit card applications)

SCT – Shopping Cart Trick

SD – Sock Drawer 

SL – Starting Limit

SM – Secure Message 

SO – Significant Other

SP – Soft Pull

SUB – Sign Up Bonus

TL – Trade line 

TU – TransUnion

TYP – Thank You Points from Citi Bank

UR – Ultimate Reward Points from Chase

USAA – United States Automobile Association

UTL – Utilization

UW – Underwriter 

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