Credit card glossary
The most important credit card terms explained simply.
- 3D Secure
- A security standard for online credit card payments with additional authentication.
- Acceptance rate
- The proportion of applicants whose credit card application is approved by the bank.
- Charge card
- A card where all transactions are collected and debited in full once a month.
- CVC / CVV
- The three- to four-digit security code on the back of the card to secure online payments.
- Debit card
- A card where every transaction is debited from the linked account immediately.
- Effective annual interest
- The total annual interest rate including all costs for installment payment.
- Foreign currency fee
- A surcharge (usually 1–2%) charged on payments in a currency other than euro.
- SCHUFA
- Germany's largest credit bureau, which assesses the creditworthiness of consumers.