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Credit Card Glossary - O

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Office of Comptroller of the Currency
Known as OCC: Charters, regulates and supervises all national banks. It also supervises all federal branches and agencies of foreign banks.
Offline Debit Card
A combination of an ATM and credit card. Contains the MasterCard or VISA logo and can be offered by a bank, either in place of or in addition to an ATM card. After a delay of 24-72 hours, charges are drawn directly from the cardholder's account, typically a checking or savings account. Concluding a transaction by signing a slip of paper indicates the transaction was offline.
Online Banking
Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution?s web site on the Internet. Also known as Internet banking.
Online Bill Payment
A service offered by online banks, usually for a small monthly fee, that relieves consumers from having to write checks and lick stamps to pay their monthly bills. Online bill payment systems allow people to enter the names of their creditors and the numbers of their utility accounts and pay virtually all routine bills.
Online Debit Card
An online debit card deducts funds from the bank account immediately, as soon as the card is used. It may have the VISA or MasterCard logo, or only the issuing bank's logo, like an ATM card. There is no delay for processing the transaction -- the money is immediately deducted from your account. In the U.S., if you entered a Personal Identification Number (PIN) during the transaction, it was online.
Open-end Credit
A line of credit that may be used up to a set limit. Also called a charge account or revolving credit.
Original Principal Balance
The amount borrowed.
Original Principal Balance
The amount borrowed.
Over The Limit Fee
Charged for using more than the credit limit on your card.
The amount that a check exceeds the available balance in the payor's account; also insufficient funds.
Overdraft Protection
A service that allows a checking account to be linked to another savings or line of credit to provide protection against insufficient funds or overdrafts.