Glossary: Credit Card Basics

Cardholder is a person who possesses a card, especially a credit card.

Money borrowed against your line of credit, either by withdrawing it from an ATM or by using a convenience check issued by your credit card…

Credit card application is a form which you need to fill out when applying for a credit card. Filling out this form you provide the bank or…

Every credit card has its own maximum credit amount extended by lender to a client. That is the sum of money that a credit card company…

Every card has a limit on how much cash you can withdraw from an ATM each day. The terms and conditions of your card agreement will say…

Prepaid cards may have a limit as to how much money can be loaded onto the card each day. Prepaid cards can usually be loaded at an ATM or…

Nearly all credit cards have a minimum finance charge. You’ll be charged that minimum if the calculated amount of your finance charge is…

During a grace period, no interest or finance charge will be assessed. Grace periods begin when you make a purchase or withdrawal and give…

Grace periods, or the amount of time you have to pay a balance before interest begins to accrue, are usually 25 days long but may be longer…