Glossary
Short definitions for rewards, caps, salary-transfer offers, and banking terms.
Definition
Annual fee waiver
A condition that may remove or reduce a card annual fee.
Definition
Cashback cap
The maximum cashback a card may pay for a period or category.
Definition
Merchant category code
A payment network code that helps classify a merchant by business type.
Definition
Miles value
An estimated cash-equivalent value assigned to airline miles.
Definition
Minimum salary
The minimum monthly income a bank lists for a card or account offer.
Definition
Minimum spend
A spend threshold that must be met before a rate, fee waiver, or bonus applies.
Definition
Qualifying spend
Spend that counts toward a reward, cap, bonus, or fee waiver.
Definition
Reward rate
The rate used to calculate cashback, points, or miles on qualifying spend.
Definition
Salary transfer
Moving your monthly salary payment to a bank account.
Definition
Welcome bonus
A promotional reward offered to new customers or new cardholders.
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