Understanding Credit Card Agreements — 13 Terms You Need to Know

04 Mar Understanding Credit Card Agreements — 13 Terms You Need to Know

Recently, Bankrate provided an article which thirteen important terms which appear in most credit card agreements.  These terms are critical for a proper understanding of what you are getting yourself into when you buy goods using credit.  The terms include Annual fee, Annual percentage rate (APR), Introductory rate, Average daily balance, Preapproved, Balance transfer, Secured card, Cash-advance fee, Universal default, Credit limit, Variable interest rate, Finance charge and Grace Period.  If you are a credit card holder, and you are uncertain of the meaning of any of these terms, you should click over to Bankrate immediately.

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