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account -- Money deposited with a bank for investment and/or safekeeping purposes.

adjusted balance -- The balance that remains when all payments made during a billing cycle are subtracted from the balance from the previous billing cycle. This balance does not include finance charges for the current billing cycle.

annual fee -- A yearly fee charged to a customer to participate in an open-ended credit program.

annual percentage rate (APR) -- The cost of credit expressed as a yearly rate. APR is a percentage that results from an equation considering the amount financed, the finance charges, and the term of the loan.

assets -- Items of monetary value (e.g., house, land, car), owned by an individual or a company.

ATM -- Acronym for automated teller machine.

authorized user -- A person who has been given permission to make changes to a credit account. This status must be given by the primary account user. An authorized user is not legally responsible for repaying the account.

average daily balance -- The balance that results from adding together all the daily balances of a credit account in the billing cycle and dividing by the number of days in the billing cycle. This balance is often used to calculate finance charges.