Risk pricing
A higher percentage rate is charged to customers considered "higher risk". You may earn a "higher risk" designation if you are late making payments or default on some other area of your credit agreement.

Rate floor
After any applicable introductory rate period passes, the rate floor determines the lowest possible interest rate on a variable-rate credit card. For example, no matter how low the Prime rate drops, the credit card interest rate will never drop below the specified rate floor.

Receipt
A hard copy document recording a transaction that took place at the point of sale, with a description that usually includes: date, merchant name/location, primary account number, amount, and reference number.

Recurring Billing
Transactions for which a cardholder grants permission to the Merchant to periodically charge his account number for recurring goods or services.

Reference Number
Number assigned to each monetary transaction in a descriptive billing system. Each reference number is printed on the monthly statement to aid in retrieval of the document, should it be questioned by the cardholder.

Refund
Create a credit to a cardholder account, usually as a result of a product return or to correct an error.

Request Authorization (auth)
Submits a transaction for Authorization Only. (See Authorization)

Retail Merchant
A merchant that provides goods and/or services in the retail industry, but is not a mail/phone merchant, a recurring services merchant, or a T&E merchant.

Retrieval Request
An issuer's request for a transaction receipt, which could include the original, a paper copy or facsimile, or an electronic version thereof.

Reversal
An online financial transaction used to negate or cancel a transaction that has been sent through interchange in error.