Credit Card Glossary - M

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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 smallest amount of money paid to keep the account from going into default. Often a minimum of 2% of the outstanding balance.

Modification

A change in terms of the loan agreement.

Monthly Periodic Rate

The interest rate factor used to determine the interest charges on a monthly basis. The yearly rate (APR) divided by 12.