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23RD JUL 2008
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Grace period – The grace period is the time between the closing date of the account and the time the payment is due. It is important to know how long the grace period is in order to avoid late payments.Introductory interest rate – The introductory rate is in effect for a limited period of time. Many credit cards come with low or even no interest introductory rates. After the introductory rate period has expired, the interest rate typically reverts to standard levels.Payments – This refers to the amount paid on the card each month.Platinum card – Like a gold card, a platinum card typically comes with a higher credit line, and it may come with other perks, such as travel insurance, as well.Prepaid credit card – With a prepaid credit card, you pay up front, and the money charged on the card is deducted from the balance.Provider – The bank or company that provides the credit card.
Rewards – These are the perks given by the credit card, and can include airline miles, cash back awards, gift certificates or other items.Student cards – These are credit cards designed for the student community. These cards often have less stringent credit history requirements than standard cards.Terms and conditions – The fine print in the credit card agreement. When you sign your credit card application you are agreeing to the terms and conditions spelled out in the fine print.Unauthorized use – Unauthorized use occurs when the card has been used without the permission of the cardholder.Any unauthorized use should be immediately reported to the card provider. www.1stcall.com
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Credit Card Basics - Watch Out For Fees
Provided by The Student Zone (United Kingdom)
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