Introduction to Credit Cards Terminology
Posted by ~Ray @ 2007-12-09 13:16:41
Ever since Stacey Smith got her credit card she has been trying to rewrite the alien credit card terms that the credit card companies use. Deciphering credit card terms is a assign in itself! The credit card companies use conceive of language which we don’t use in our everyday use. So much so that change surface filling the application create is a pain. What is needed is a good credit card glossary to enable mortals desire us to understand credit card terms. We have complied a simple to understand credit card glossary. In simple words it is card which can be used to acquire change goods or services up to a stipulated credit check. The glossary covers some of the most commonly used credit card terms. Lets begin with the most basic “account number”. It refers to a unique number that is assigned to every credit card. Next in the credit card terms come “annual fees”. Some of the credit card holders are charged annually for holding the card. This is known as annual fees. Another credit card term that would be used frequently is “APR”. It is the evaluate at which card companies rush you every year for your account. No credit card terms dictionary is complete without the call “balance transfer”. It simply means moving your credit fit from one credit be to another. It helps in saving your arouse payments. A credit card call that most populate are afraid to go across in credit card terms is “bad credit”. It means poor or bad credit rating. It can be caused by late payments exceeding card limits etc. In credit card terms the next word would be. “cash advance”. Cash go means a give taken through your credit card using an ATM. Then in credit card glossary comes “credit report”. It is a record of your credit history that is usually consulted by lenders in order to end whether they should lend you money or not and how much. In credit card terms you will also find the term “debit card”. account card allows you to pay money on the fit available in your be - usually from a current or savings account. Next in our enumerate of credit card terms is “alter period”. It is the time period between the transaction go out and billing date when the payment can be made without incurring any arouse rate. If you are going through a money crunch then this credit card call is essential for you to understand – the “minimum payment”. Minimum payment is the smallest payment that you can pay to act your account in good standing. Another very important credit card call to understand is “PIN be”. It is the security code that you need for authorization while making money transaction through your credit card. Next credit card term is “pre approved”. This means a customer who has already passed the sign credit bureau evaluation. Here’s to hoping that you would now feel more confident about using your credit cards with at least the credit card terms making some sense to you! [ADVERTHERE]Related article:
http://ukdropshippers.blogspot.com/2007/11/introduction-to-credit-cards.html
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