Credit Flashcards
ATM cash advance
Using your credit card to get cash from an automated teller machine
Balance payer
Someone who pays their entire credit card balance each month
Annual fee
Yearly fee charged by some credit card companies
Balance transfer
Paying off one credit card balance by transferring it to another credit card
Credit
Borrowing money or promising to pay it back later
Credit card solicitations
Advertisements sent in the mail inviting you to apply for credit cards
Credit cards
Plastic cards used to make purchases on credit
Credit inquiry
A lenders check of your credit rating
Credit line
The maximum amount you can borrow on a credit card
Credit rating
History. A detailed record of pet borrowing and credit payments
Debit cards
Plastic cards used to pay for purchases with funds you have in a bank account
Grace period
Time period following your credit card statement date where no interest is charged if paid in full dull during the grace period
Interest
Fee paid to a lender for use of money
Interest rate
Annual percentage which when multiplied by your credit card balance equals the interest charge
Late fee
Yearly fee charged by some credit cards
