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Welcome to the Scout Discover Prepaid Card Program

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					   Welcome to the Scout Discover® Prepaid Card Program

                                               Glossary of Financial Terms

Annual Fee
A yearly fee charged by some credit cards for use of the card.

APR (Annual Percentage Rate)
A periodic percentage rate that determines the finance charges you pay on your account.

Balance Transfer
Moving an unpaid balance from one open credit account to another. You will save money if you transfer
balances to a credit account with a lower interest rate.

Billing Cycle
The length of time between your statements.

Budget
A summary of estimated personal or business expenses, income and savings, usually on a monthly or annual
basis.

Cardholder Agreement
A written document that provides details of your agreement with the credit card issuer.

Cash Advance
Using your credit card to get cash from a bank, ATM, or by writing a convenience check. Typically, the card
issuer charges a cash advance fee for the transaction and begins charging interest immediately.

CD (Certificate of Deposit)
A type of savings account that earns a fixed interest rate higher than a regular savings account. Money can
only be withdrawn, or cashed in, on a specified date of maturity. Owners can also leave it alone so its value
continues to grow.

Charge Card
A specific kind of card that requires full payment of your balance with each billing cycle. Typically charge
cards do not charge interest, but late fees can apply if full payment is not received by the due date.



                    Author - Marissa Yaremich                                     Author URL - Marissa Yaremich
                    Published - November 09, 2012                                   Updated - November 09, 2012




 This card is issued by First California Bank (FCB) pursuant to a license from Discover Network. Discover and the Discover acceptance mark are
                                                                                                      ®



    service marks used by FCB under license from Discover Financial Services. mFunds Global Payment Solutions is a registered ISO of FCB.
                                      Please visit www.ScoutsAreThrifty.com today!
   Welcome to the Scout Discover® Prepaid Card Program

                                               Glossary of Financial Terms

CID (Card Identification Number)
The CID is the three-digit number at the far right on the back of your credit card and is also called a card
verification value (CVV). Merchants may ask for the CID to verify that you have the card in your possession
at the time you make a transaction. When using a Secure Online Account Number, please use the three-digit
CID generated for that secure account number.

Common Stock
Partial ownership in a publicly-traded company that gives you voting privileges about the company’s
business decisions.

Compound Interest
A type of interest on an investment that continuously builds upon itself that can double, triple or even
quadruple the original investment amount.

Credit Line
The maximum amount that you can charge on your credit card.

Credit Report
A report about your credit history that lenders (credit card companies, mortgage companies, loan agents,
etc.) consult to determine if and how much money they should lend to you. Your history for making timely
payments, any outstanding debt and open lines of credit are all shown on your credit report. Your credit
report is available from credit bureaus such as Equifax, Experian and TransUnion.

Declined Transaction
When a bank rejects a credit or debit cardholder’s attempted purchase because there is not enough money in
the account.

Debit Card
A card issued by a bank that directly accesses available money from a bank account, typically a savings or
checking account.

Default
When a customer doesn’t make a required payment to a credit card account, or otherwise violates the terms
of the agreement between the credit card company and the customer.

                    Author - Marissa Yaremich                                     Author URL - Marissa Yaremich
                    Published - November 09, 2012                                   Updated - November 09, 2012




 This card is issued by First California Bank (FCB) pursuant to a license from Discover Network. Discover and the Discover acceptance mark are
                                                                                                      ®



    service marks used by FCB under license from Discover Financial Services. mFunds Global Payment Solutions is a registered ISO of FCB.
                                      Please visit www.ScoutsAreThrifty.com today!
   Welcome to the Scout Discover® Prepaid Card Program

                                               Glossary of Financial Terms

Interest
A fee individuals pay for "borrowing" money from a financial institution or a fee a customer receives for
temporarily "lending" a bank personal funds (i.e. CD).

Interest Charges
Certain charges that can be incurred when using a credit card. Interest charges include interest costs.

Interest Rate
The rate at which a credit card company or other lender charges a customer for “borrowing” money. It is a
percentage of the amount borrowed.

Introductory Rate
A lower APR provided by a credit card company for a limited period of time.

Late Payment Fee
A fee charged when a payment has not been received by the specified due date.

Loan
A set amount of money a financial institution, such as a bank, allows a person to borrow with the
understanding he or she will repay the full amount within a specific time frame and usually with interest
charges added.

Minimum Payment
The smallest payment a customer can make each statement period to keep the account in good standing.

Mutual Fund
An investment style where a professional company pools together various investors’ money and invests in a
collection of stocks, bonds, money markets, cash and/or other securities.

Penalty Rate
A higher APR the credit card company charges after the customer has made late payments, exceeded their
credit line, or otherwise did not abide by the cardholder agreement.



                    Author - Marissa Yaremich                                     Author URL - Marissa Yaremich
                    Published - November 09, 2012                                   Updated - November 09, 2012




 This card is issued by First California Bank (FCB) pursuant to a license from Discover Network. Discover and the Discover acceptance mark are
                                                                                                      ®



    service marks used by FCB under license from Discover Financial Services. mFunds Global Payment Solutions is a registered ISO of FCB.
                                      Please visit www.ScoutsAreThrifty.com today!
   Welcome to the Scout Discover® Prepaid Card Program

                                               Glossary of Financial Terms

PIN (Personal Identification Number)
A security code that the customer uses with debit and credit cards to authorize transactions such as cash
advances. This PIN is different from the user ID and password customers use to access account information
online.

Pre-Approved
A potential customer who has passed an initial credit bureau evaluation.

Prepaid Debit Card
A reloadable card issued by a credit card company that allows users to determine a set spending limit,
usually for greater control of personal finances. It works like a credit card, but the spending limit equals the
amount of funds the user deposits, or prepays, onto the card.

Prime Rate
An index rate that determines the interest rate a bank will charge customers. It is one way that a credit card
company determines APRs.

Return on Investment
The ratio of money lost or gained on an original capital investment.

Risk
The degree of uncertainty a person takes when investing capital into a company or any number of other
financial transactions related to stocks, credit, lending, etc..

Savings Bond
A U.S. government-issued electronic or paper certificate registered to a specific person that is worth its face
value and any earned interest up to 30 years. There are two types of bonds, the Series I and the Series EE,
and are ruled by different maturity dates and whether the interest is based on a fixed or inflation rate.

Simple Interest
A financial formula that calculates how much a person must pay back on “borrowed” money that is based on
the original amount of money owed (principal), interest rate and the length of time the money was borrowed.
The formula to determine simple interest is: Principal * Interest Rate * Time = Simple Interest


                    Author - Marissa Yaremich                                     Author URL - Marissa Yaremich
                    Published - November 09, 2012                                   Updated - November 09, 2012




 This card is issued by First California Bank (FCB) pursuant to a license from Discover Network. Discover and the Discover acceptance mark are
                                                                                                      ®



    service marks used by FCB under license from Discover Financial Services. mFunds Global Payment Solutions is a registered ISO of FCB.
                                      Please visit www.ScoutsAreThrifty.com today!
   Welcome to the Scout Discover® Prepaid Card Program

                                               Glossary of Financial Terms

Transaction
The physical or electronic exchange of goods, services or money between a buyer and a seller.

Zero Balance
When your billing statement shows no outstanding balance and no new charges have been incurred.




                    Author - Marissa Yaremich                                     Author URL - Marissa Yaremich
                    Published - November 09, 2012                                   Updated - November 09, 2012




 This card is issued by First California Bank (FCB) pursuant to a license from Discover Network. Discover and the Discover acceptance mark are
                                                                                                      ®



    service marks used by FCB under license from Discover Financial Services. mFunds Global Payment Solutions is a registered ISO of FCB.
                                      Please visit www.ScoutsAreThrifty.com today!

				
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