What is a line of credit?
What is a line of credit and how does it work? The definition of a line of credit or LOC is an agreement between a financial institution and a customer that allows the customer to borrow up to a set amount of money. LOCs may be available to consumers and businesses. Unlike loans, lines of […]
What is a debit card?
What is a debit card? A debit card is a card that does not provide cardholders with access to lines of credit. The cards link to checking accounts and have 16-digit card numbers and CVV codes. Many cards contain EMV chips to make them more secure when you make in-person purchases from merchants. Now that […]
Credit card theft
What is credit card theft? Credit card theft is a widespread problem and happens in a variety of ways. In the past, thieves would most frequently steal credit card statements from cardholders’ mailboxes. They would then use the credit card numbers to run up charges or to make unauthorized withdrawals. Even the best credit card […]
