A monthly statement is a statement that is mailed or found online by the bank for each account that shows all credit card transactions during a particular month. It shows any activity by the consumer such as payments, purchases or any charge put on the card.

NFC stands for near field communication which means that there is a way for data technology to transfer from one wireless portal to another as long as they are a short distance away. For example your cell phone would be considered a NFC and would be able to communicate with some sort of remote computer to accept the message sent.

The introductory annual percentage rate is a temporary lower annual rate that is offered by credit card companies to interest a customer in applying for that particular card. The rate does not usually stay the same after the first year, but according to the Credit CARD Act of 2009 the Introductory Rate must last at a minimum of six months.

An encryption is a way to securely transport credit card information across the internet or credit card processing networks. It is a code on the card that keeps it secured.

The z-score looks at how likely it is that a bank will become bankrupt. It is a formula that puts a value on five financial ratios. It was determined by professor Edward Altman at the New York University in 1968.

Zero balance means that an individual has no debt on his or her credit card. By leaving a credit card at zero balance there is a possibility of loosing some credit history and could potentially hurt your credit score, but might be negligible if you continue making payments on time and using the credit card smartly.

Yield on earning assets is a way to determine the solvency of a financial industry that is used by banking regulators. It is a percentage of average earning assets that comes from interest, dividend or income earned from loans or investments.

Regulation X a rule set by the Federal Reserve Board that puts a limit on the amount of credit that is allowed of financial institutions.

A common way to determine the prime rate. It is an index that is 3 percent higher than the federal funds rate. The Wall Street Journal takes a survey of thirty of the largest banks and assesses their prime rates. These rates are published in their print edition.

A variable interest rate is an interest rate that fluctuates over time. These rates are pegged to prime rates. The prime rate is determined by the federal reserve and the variable interest rate will follow the prime rate when it fluctuates. Your variable interest rate will be the prime rate plus a certain amount.