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Card Dictionary

Margin	Expressed as percentage points, the amount that a lender adds to an index to arrive at the final interest rate. For example, if the index is 9 percent and the margin 2.75 percent, the final interest rate is 11.75 percent.
Member bank	A commercial bank with membership in the Federal Reserve System, and which maintains reserve deposits in the Federal Reserve Bank in its district.
Merged credit report	A summary of one's credit history from the big three credit bureaus: Equifax, Experian and Trans Union.
Minimum payment	The minimum amount a cardholder can pay to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the cardholder's ability to pay. Most card issuers require a minimum payment of 2 percent of the outstanding balance.
Modification	A change in terms of the loan agreement.
Monthly periodic rate	The interest rate factor used to calculate the interest charges on a monthly basis. The factor equals the yearly rate divided by 12. See periodic rate.