A yearly fee that may be charged for having a credit card
Annual percentage rate (APR)
The cost of credit expressed as a yearly interest rate
The act of transferring debt from one credit card account to another
The person or organization that is receiving money from a lender
A loan which the borrower must repay the amount in a specified number of equal payments
When goods, services, or money is received in exchange for a promise to pay a definite sum
of money at a future date
An individuals' ability and willingness to pay the money back
A form requesting information about a person's ability to repay credit
Pre‐approved credit which can be used for the purchase of goods and services now and
payment of them later
A comparison of information on a credit application to information on a credit report
The maximum dollar amount that can be charged to a credit card
A record of a consumer's credit history that includes information about credit card use as
well as the use of other types of credit
A number that summarizes an individual's credit record and history
A plastic card which looks like a credit card but is electronically connected to the
cardholder's bank account
The price of money
The APR charged during the credit card's introductory period after a credit card account is opened
Late payment fee
Fee charged when a credit card holder does not make the minimum monthly payment by the
The person or organization who has the resources to provide a borrower with a loan
Extended as a line of credit established in advance so that the borrower does not have to
apply for credit each time new credit is desired
Fee charged if the credit card account balance goes over the set credit limit
The interest rate charged on new transactions if the penalty terms in the credit card contract
When someone has passed an initial credit check
An index that represents the interest rate most banks charge their most creditworthy
Displays the main costs of a credit card
An APR that may change depending on other factors, such as the prime rate
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