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Transcript of dvice/glossary.htm dvice/glossary.htm.
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www.creditcardcritic.com/advice/glossary.htm
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Annual Fee: A fee charged to the cardholder by the card issuer
Finance Charge: Amount of interest charged on the account for a particular billing cycle
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Minimum Payment: The smallest amount of money that must be paid by the cardholder for the billing cycle
Balance Transfer: Moving a balance from one credit card to another
Moving a balance from one credit card to another
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Billing Cycle: The days between the last statement and the current statement
APR: Annual percentage rate of the finance charge
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Grace Period: Time period during which a cardholder may pay off his or her balance without incurring a finance charge
Late Payment Fee: Fee charged to a cardholders for being delinquent with their payments
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Basic/Classic Card: Usually comes with a low credit limit
Gold Card: Offers more benefits and a higher credit limit than a basic/classic card
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Platinum Card: Typically issued to people with higher incomes
Rebate Cards: Cardholder earns points or money which may be applied later in the purchase of certain goods and services
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The time allowed to pay your balance without being charged a finance charge is the ______
A. Billing Cycle B. Grace Period C. Balance Transfer D. Minimum Payment
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The smallest amount of the balance a cardholder is required to pay is called the _____
A. Minimum Payment B. Balance Transfer C. Grace Period D. Billing Cycle
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A fee charged to a cardholder’s account once a payment is overdue is called _____
A. Annual Fee B. Cash Advance C. Finance Charge D. Late Payment Fee
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What is the fee charged by the card issuer for being a card holder?
A. Annual Fee B. Cash Advance Fee C. Finance Charge D. Late Payment Fee
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The act of moving whole or a partial balance of a card to another credit card is called _____.
A. Cash Advance B. Finance Charge C. Annual Fee D. Balance Transfer
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When lenders look at your total income and total debt are looking at your _____.
A. Minimum Monthly Payment
B. Finance Charge C. Debt to Income Ratio D. Late Payment Fee
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The days between the last statement and the current statement cycles is called ____.
A. Billing Cycle B. Grace Period C. Balance Transfer D. Minimum Payment
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www.myvesta.org (debt, credit cards, mortgages, etc)
www.eqmoney.com (Credit Score)
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Financial experts state people should not spend more than 20% of their net income (after taxes) on short-term credit purchases
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http://publications.usa.gov/epublications/choosecard/checklist.htm (How to choose the credit card right for you- and are you ready for a credit card)
http://www.federalreserve.gov/creditcardcalculator/Default.aspx (How long is it going to take to pay off your credit card?)