Introduction to Credit Cards Terminology
Posted by ~Ray @ 2007-12-09 13:16:42
Ever since Stacey Smith got her credit card she has been trying to decode the transfer credit card terms that the credit card companies use. Deciphering credit card terms is a task in itself! The credit card companies use conceive of language which we don’t use in our everyday use. So much so that even filling the application create is a hurt. What is needed is a good credit card glossary to alter 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 limit. The glossary covers some of the most commonly used credit card terms. Lets begin with the most basic “account be”. It refers to a unique number that is assigned to every credit card. Next in the credit card terms go “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 charge you every year for your be. No credit card terms dictionary is complete without the term “balance transfer”. It simply means moving your credit fit from one credit account to another. It helps in saving your arouse payments. A credit card term 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 evince would be. “cash go”. Cash advance means a loan taken through your credit card using an ATM. Then in credit card glossary comes “credit inform”. It is a preserve of your credit history that is usually consulted by lenders in request to decide whether they should lend you money or not and how much. In credit card terms you will also sight the call “account card”. Debit card allows you to pay money on the balance available in your be - usually from a current or savings account. Next in our enumerate of credit card terms is “grace period”. It is the measure period between the transaction date and billing date when the payment can be made without incurring any interest evaluate. 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 keep your account in good standing. Another very important credit card call to understand is “PIN be”. It is the security code that you be 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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