Card Dictionary
| Rate | Percentage a borrower pays for the use of money, usually expressed as an annual percentage. |
| Rate index | A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans. |
| Rebate card | This is a credit card that allows the customer to accumulate cash, merchandise or services based on card usage. |
| Recession | A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks. |
| Redemption | Debtors may keep exempt secured property even though they owe money on it by paying the creditor the collateral value of the property rather than the amount of the debt. Note that in some cases the "value" of the collateral may be less than the amount owed on it. In these cases it may be advantageous for the debtor to redeem the property. |
| Regional bank | A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the state in which it is located. It is typically more expansive than a community bank, but more restrictive than a national financial institution. |
| Regulation Z | A rule, enforced by the Federal Reserve Board and implementing the Truth-in-Lending Act, that requires lenders to disclose all credit-related costs including the annual percentage rate. |
| Remaining balance | Unpaid principal on a loan. |
| Remaining term | The time it will take to pay off the rest of an installment loan as scheduled. |
| Reorganization plan | A Chapter 11 or 13 plan describing the terms by which the debtor intends to repay his debts, usually over a three- to five-year period. |
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