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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
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
Billing Cycle: The days between the last statement and the current statement
APR: Annual percentage rate of the finance charge
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
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
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
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
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
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
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
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
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
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
www.bankruptcyaction.com(Bankruptcy information)www.myvesta.org (debt, credit cards, morgages, etc)
www.eqmoney.com (Credit Score)
Financial experts state people should not spend more than 20% of their net income (after taxes) on short-term credit purchases