Credit Card Vocab

Front

What is the amount of money you must pay every month on a credit card?

Back

Minimum Payment

Front

What is a credit card's yearly interest rate called?

Back

Annual Interest Rate (APR)

Front

What does it mean to be in a state of owing somebody money?

Back

Debt

Front

What is the Annual Percentage Rate (APR) divided by 12 months called?

Back

Monthly Finance Rate

Front

What is the extra money you must pay if you go over your credit limit?

Back

Overdraft Fee

Front

What is the fee charged for not making a payment on time?

Back

Late Fee

Front

What is a numerical expression of a person's creditworthiness?

Back

Credit Score

Front

What is the term for the interest charged on a loan or credit card?

Back

Interest

Front

What is the maximum amount of credit that a financial institution will extend to a client?

Back

Credit Limit

Front

What is the term for a promotional interest rate that is lower than the standard rate?

Back

Introductory APR