Credit Card Vocabulary

Front

Balance

Back

The amount that still needs to be paid to the credit card company.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Billing Cycle

Back

The time between billing statements, usually 28-31 days.

Front

Annual Fee

Back

A yearly fee that may be charged for having a credit card, independent of how you use the card.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Credit Limit

Back

The maximum amount of money you can borrow with one card.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Interest Rate

Back

The cost of credit; the rate charged for borrowing money usually expressed as a percent of the amount borrowed.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Cash Advance

Back

A service provided by credit card issuers that allows cardholders to withdraw cash, usually at a high-interest rate.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Creditworthiness

Back

An assessment of a borrower's ability to repay debt, often determined by credit score.

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Front

Default

Back

Failure to repay a loan according to the agreed terms.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Payment Due Date

Back

The date by which a credit card payment must be made to avoid late fees.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Average Monthly Balance

Back

The average amount owed on a credit card over a billing cycle.