Certificates of Amortized Revolving Debt
Certificates of Amortized Revolving Debt (CARD)
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved