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Everybody loves presents, and if you want to get the most desirable one, read this part of our Glossary. This category terms describe different reward programs, which are worth knowing to get the most of your credit card.
The activation fee is a one-time charge that some cards carry. It is separate from an annual or monthly fee, which is charged every year or…
A fee charged by a credit card company each year for use of a credit card. Most banks have credit cards without annual fee. Annual fee may…
When cancelling or closing an account, you may be charged this processing fee. This fee can be $295 or more for traditional credit cards so…
Most credit card issuers will issue replacement cards for free, but there can be costs associated with lost cards, such as checking an…
If you use the balance transfer service and make a late payment on the balance transferred, have a payment returned, or exceed your credit…
When your credit card is in default, a default, or penalty APR will be applied. Usually there is one default APR for purchases, balance…
If you violate the terms of your agreement by making late payment, not making a payment at all or paying less than the minimum amount due,…
The fee which is charged when you withdraw money from ATMs that are owned by your network or issuer or are in partnership with your card’s…
A domestic purchase is a purchase that is made locally. Card issuers usually never charge a fee for domestic purchases but this fee could…
A foreign transaction fee will apply to purchases made in another country, unless your credit card offers no foreign transaction fee. Most…
All ATM withdrawals from foreign countries carry fees. When you visit an ATM in another country, you are likely to be charged a foreign…
An initial low rate, often a zero-percent rate, will be offered for balance transfers on many credit cards. If payments are made on time…
The promotional rate that may be offered on cash advances from a credit card company. Cash advance rate APRs are generally high and most…
Often a credit card issuer offers a low or zero percent APR on purchases for a limited time, known as an introductory period. This…
A period of time during which the Introductory APR is in effect. The interest rate will usually go up after the end of the Introductory…
A cash advance will almost always have a minimum amount of interest charged, no matter how small the withdrawal or how quickly it’s paid…
The minimum interest charge on purchases will be charged when there is no grace period or introductory rate that applies. It may be…
An ongoing annual percentage rate (APR) on balance transfers will apply to any balance transferred from one card to another. If your credit…
The Annual Percentage Rate (APR) determines what you will pay in interest charges each month. The ongoing APR on cash advances is always…
The ongoing APR is the annual percentage rate that is charged on purchases and balance transfers after any introductory offer expires. It…
There may be a fee for checking your balance at an ATM owned by a different bank, so be sure you’re not paying to make a balance inquiry….
Balance Transfer: Save on Average $1,400
May 08, 2015
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