Glossary
Credit card closure glossary
Short definitions and deeper explainers for the account-status terms people search when a card goes idle, closes, or needs to be reopened.
Definition
Credit card inactivity
Credit card inactivity is a long period with no posted transactions or other qualifying activity on a specific credit card account.
Definition
Closed by creditor
Closed by creditor is a credit-report status showing that the lender closed the account instead of the cardholder voluntarily closing it.
Definition
Credit card reinstatement
Credit card reinstatement is the process of reopening a closed credit card account rather than applying for a brand-new account.
Definition
Inactive credit card
An inactive credit card is an open credit card account that has gone a long time without a posted purchase or other qualifying account activity.
Definition
Credit card closed for inactivity
Credit card closed for inactivity means the bank closed a credit card account because it had not been used recently enough.
Definition
Credit utilization
Credit utilization is the share of your available revolving credit that is currently being used by reported balances.
Definition
Sock drawer card
A sock drawer card is a credit card that stays open but is not part of your normal spending routine.
Definition
Statement balance autopay
Statement balance autopay is an automatic payment setting that pays the full balance shown on your credit card statement by the due date.
Definition
Minimum charge
A minimum charge is the smallest posted transaction that can create account activity on a credit card.
Definition
Closed account on credit report
A closed account on a credit report is an account that is no longer open, even though its past payment history and status may still appear.
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