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I believe it stands for Blister And Card, but I've usually seen it referred to as BOC (Blister On Card), meaning it was opened but still attached. To me, Blister And Card would mean that they are both present but without stating whether they were attached or separated.

Here are some other common acronyms for collecting purposes:

Acronyms Regarding Condition
MOSC - Mint On Sealed Card. Means that the blister or bubble package is still sealed and has not been compromised in any way.

MOC - Mint On Card. This means the packaging could actually be opened with a mint figure but the blister is still connected to the card back. Lately though, it has become interchangeable with MOSC, though they do not mean the same thing. MOC is comparable to MIB.

MIB - Mint In Box. Means that the figure has been opened but is in mint condition and comes with the box and all packaging. The box itself may or may not be in mint condition, which is why listings for this will usually have some indicator for it listed after (see further down).

MISB - Mint In Sealed Box. This means that the packaging had not been opened in any way. Generally, the condition of the box is good, too, but it is not a guarantee.

Condition scale. This is a scale from 0 to 10 representing either a figure's condition or the packaging condition, where applicable. C0 is practically worthless, and is rarely mentioned. Even an opened baggie is usually a C2 or C3. C10 is perfect and very hard to get, since it means there isn't any discoloration, missing or damaged parts, sticker wear, odors, residue (adhesives, dirt, dust, soda, etc), scratches, dents, dings, cuts or any other damage. Typically, the highest you'll usually find is C8 or C9, known as Near Mint or Mint. These figures (or boxes) are in excellent condition and have only one or two minor issues, which are typically due to factory errors (minor paint application mistakes) or shelf-wear (minor creases on boxes and card backs).

AFA Grading - AFA stands for Action Figure Authority, which is an independent grading company. For a fee, they will review and rate any action figure in or out of packaging. Generally, anything that has been AFA-graded is worth more than a non-graded version of the same figure in the same condition. It's comparable to certified diamonds versus non certified diamonds.

Here is AFA's website, if you want to know more about them: Action Figure Authority ? Home Page

Acronyms Regarding Stores/Online Shops/Sites
WM = Wal-Mart
KM = K-Mart
HTS = Hasbro Toy Shop (Games, Toys, Action Figures, Collectibles, and Gifts - Hasbro Toy Shop)
Matty = Mattel's online store (MattyCollector.com Online Store - Welcome)
BBTS = Big Bad Toy Store (BigBadToyStore.com - Toys, Action Figures, Vintage Toys, and Collectibles)
EE = Entertainment Earth (Action Figures, Toys, Bobble Heads, and Collectibles by Entertainment Earth, the Action Figure Company)
TFW = Transformers World 2005 (our TF sister site, Transformer World 2005)
"The Tank" = Hisstank.com (our G.I. Joe sister site, HissTank.com - G.I. Joe Toy and Movie News and Discussion)

Miscellaneous Acronyms and Terms
MU (Marvel Universe) and FF (Fury Files). Both refer to the same toy line: Hasbro's 3.75" Marvel figures.

BAF = Build-A-Figure. Used mainly when referring to lines where a part is included with each figure in a specific series or wave, and when all the pieces are put together you have a unique figure that is unavailable otherwise. Marvel Legends and Star Wars Droid Factory are examples of toy lines that have had BAF waves.

Re-deco (or redeco) - Short for redecoration, it is a re-release of a particular toy mold with a new color scheme. Contrary to popular belief, this is not the same thing as a "repaint." A re-deco means that the plastic itself was made using different colored dyes during the manufacturing process. It does not mean that the original figure was made and then painted over with the new colors at the factory (read: repaint). A re-deco mean a brand new run of figures were produced. Any factory-applied paint applications would still fall under re-deco if changed, since they only cover a small area of the figure to highlight details of the mold.

An example would be MU's "Flame On" Johnny Storm, which is identical to the non-flame Johnny, except the plastic used was translucent, with different dyes for the color.

Repaint - A released figure where most or all of the existing plastic has been painted over. Should really only be used when referring to custom toys. Unfortunately, a lot of collectors tend to use repaint to mean re-deco, which only tends to confuse the issue. For most toy, it is actually cheaper for manufacturers to change the color of the plastic they use during the manufacturing process than to use the original color in the mold and pay someone else to paint over it using another color.

An example of this would be if someone bought the green MU Hulk and painted his purple paints denim blue. Hasbro would just change the dye, rather than use the purple plastic and then paint over it with blue.

Remold - A re-released figure that has certain parts of its mold altered for various reasons. Going back to MU Hulk, Red Hulk would be an example of a remold. It has a new head and hand, as well as a new deco, but the rest of the mold is the same.

Sorry it's a bit long-winded, but I hope this helps.