Tags: Credit, Relief Posted in fixed rate credit cards | Comments Off If you are going to play the credit card game, you have to know the terminology. Companies literally bank on you not being fully aware of the convoluted playing field they have invited you to. So to save yourself a lot of grief- money and frustration- it pays to become familiar with the vocabulary of credit cards. Annual Fee- Some card issuers (notably American Express and other charge cards) charge an annual fee. They can range from $40 to $200 or more, depending on the card. Most credit cards (Visa, MasterCard, Discover) do not charge an annual fee. free credit report every year APR (Annual Percentage Rate)- The interest rate applied to your balance if it is not paid off in full by the end of the billing cycle. Yet even a fixed rate can change, but the creditor must inform you in writing. There are also different APRs for different types of balances- balance transfers or purchases. Balance- The amount you owe the credit card company at any given time. The higher your balance, the lower your available credit. credit check Balance Transfer- The process of moving debt from one creditor to another.
Card issuers often offer low interest rates on balance transfers to entice new business. Credit Limit- The maximum amount you can charge to your card.
If you go over this limit, online credit check free North Dakota heavy fines are applied by the creditor. Grace Period- online credit check free North Dakota The amount of time after your payment due date and before late fees are applied to your account.
If you have already used your grace period in a previous month, you may not have one available. free check credit report Balance transfers and cash advances usually do not have grace periods.
Introductory Rate- Also called a Teaser Rate, this is when credit card online credit check free North Dakota companies offer low introductory interest rates to get your business.
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