Credit Guide

A Credit Card Jargon Buster
Michael Knowles

Card Consolidation Credit Debt Credit cards, as part of the financial industry, use a massive array of jargon. You can't be expected to recognise all these technical terms, and some of them are quite important - so here's a quick guide, in alphabetical order.

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Credit Union Affinity card: This is a credit card that gives a certain amount to a charity of your choice, depending on how much you spend. It is generally best to avoid any charity that wants you to sign up for such a card - don't let guilt lead you to a high interest rate.

Whether you need to transfer a credit card balance or find a new credit card, our simple search will quickly help you find the best credit card from some 120 UK providers. Compare standard rate credit cards and credit cards with introductory rates and rewards.

Merchant Credit Guide Co APR: Annual Percentage Rate. This is your overall interest rate, calculated yearly, and given as a percentage of your balance.

Impartial guide about credit card types available in the UK. Ensure you choose the right credit card type for you and save money with uSwitch.com

Apply Online For Credit Card ATM: Automated Teller Machine. A cash machine. It will give you money when you put your credit card in, but will probably charge an extra fee.

Bank of America offers different enrollment promotions for the various Alaska Airlines Credit Card products they offer. It is important that you read the details of the promotion you are applying for, and enroll for the specific credit card the promotion advertises. If you apply for, but are not approved for, a specific card product then Bank of America may consider you for a different credit card which may offer a lower amount of bonus miles than the credit card you originally applied for.

By Card Credit Debt Debt Guide Balance transfer: This is when you transfer your debt ('balance') from one credit card to another. The usual reason for this is to try and keep as much debt as possible on a lower-interest card.

Some of the credit cards offered by Bank of America have an annual cap on the amount of miles you can earn. If you hold one of these credit cards and have reached your mileage cap for the year, 7302 (for existing cardholders) to request an upgrade to a higher level Alaska Airlines Credit Card. Our Signature and Platinum Plus Credit Cards do not have an annual mileage cap.

Credit Repair Credit limit: Your credit limit is the maximum amount you can spend or withdraw from your card. Going over your credit limit will result in your card no longer being accepted, and you being charged an over-limit fee.

Active Credit Credit Guide Fixed rate: A fixed rate card is one where you are given a rate when you sign up for the card and that rate, at least in theory, stays the same for the whole time you have the card. In practice, though, interest rates can be changed for almost any reason.

Credit Score Grace period: Your grace period is the amount of time between when you spend money and when you start paying interest on it. Good cards can have a grace period of up to two months - bad ones might not have one at all.

Bad Car Credit Guide Loan Minimum payment: A minimum payment is the absolute lowest amount you can pay back to the credit card company each month - you should pay more, but you don't have to. Minimum payments are usually around 2% of your balance.

Bad Credit Loan Sub-prime: This is a phrase used in the industry to describe customers who are a bad credit risk, but are seen as worth lending to anyway. If you are identified as sub-prime, you'll start getting offers for loans secured on your property - they know that if you can't pay, they'll get their money anyway.

Credit Definition Derivative Teaser rate: A 'special offer' low rate, usually written in enormous letters. You will see many offers with "LOW 4.9% APR" in inch-high letters, followed by "for first six months, 21.9% thereafter" in microscopic ones. Teaser offers can sometimes be worth taking, but not if they tie you in for longer than the period of the offer.

Bad Credit Mortgage Variable rate: This is an interest rate that is worked out by adding a certain amount to the current base rate. Taking this option will allow your credit card to be affected by changes in national interest rates - a good idea if you think they might go down, and a bad one if they're on the way up.

The Insider Guide To Credit Copyright 2005 Michael Knowles
www.freedomisyoursonline.com
You may use this article on your website if you keep my copyright on it or you may link directly to my free blog reports page at http://www.freedomisyoursonline.com/wordpress

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Banker Complete Credit Guide I run several websites with lots more in development. My favorite subjects are computers and internet marketing. I also have my own article directory website at http://www.postyourarticles.com. Come by and post your articles at my site for FREE

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