The Learning Center
GLOSSARY TERMS
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Terms that begin with L

Liability on an Account

Any time you apply for any type of account you also agree to have a certain amount of liability on that account.  A  liability is the legal responsibility to repay any money you borrow whether it is acquired by means of a loan or by credit card debt.


Previous Credit Card Term: Late payment fee

Next Credit Card Term: LIBOR


* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.