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Certificates for Amortizing Revolving Debts
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Certificates for Amortizing Revolving Debts
Pass-through securities backed by the receivables on credit cards. That is, they are debt securities in which the holders are entitled to the principal and interest on the credit card payments underlying them. CARDs are structured in a similar way to mortgage-backed securities.
Certificates for Amortizing Revolving Debts (CARDS)
A special type of asset-backed debt security collateralized by credit card balances.
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