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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Certificates for Amortizing Revolving Debts (CARDS)

A special type of asset-backed debt security collateralized by credit card balances.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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