Terms to Know


Acronym for “Terminal Access Controller Access Control System.” Remote authentication protocol commonly used in networks that communicates between a remote access server and an authentication server to determine user access rights to the network. This authentication method may be used with a token, smart card, etc., to provide two-factor authentication.

Tiered Rewards

A rewards earning calculation that is typically disclosed as “up to” a certain percentage cash back. Various spending tiers earn increasing percentage rewards, up to the maximum amount advertised. For example, a reward offer advertised as up to 1% cash back could involve 0.25% for the first $1,000 in spending, 0.50% for the next $1,000 and 1.0% for all spending > $2,000.


(1) Any agreement between two or more parties that establishes a legal obligation. (2) The act of carrying out such an obligation. (3) All activities affecting a deposit account that are performed at the request of the account holder. (4) All events that cause some change in the assets, liabilities or net worth of a business. (5) An action between a cardholder and a merchant or a cardholder and a member that results in activity on the cardholder account.

Transaction Identifier

A unique 15-character value that VISA assigns to each transaction and returns to the acquirer in the authorization response. VISA uses this value to maintain an audit trail throughout the life cycle of the transaction and all related transactions, such as reversals, adjustments, confirmations and charge-backs.

Truth in Lending Act (TILA)

The primary federal law governing the extension of consumer credit by lender in the United States. Congress instituted the TILA in 1968 to ensure more accurate disclosure of credit terms so that consumers could compare the various credit terms available in the credit marketplace, to avoid the uninformed use of credit, and to protect themselves against inaccurate and unfair credit billing and credit card practices. The regulation that implements TILA’s requirements is Regulation Z, which is administered by the Federal Reserve. Under Regulation Z, card issuers are required to disclose the terms and conditions to potential and existing cardholders at various times.