Credit Card Vocab

Front

Credit Card

Back

allows the user to charge for the purchase now and pay later

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

Debit Card

Back

Directly withdraws from checking account for purchases.

Front

Credit Limit

Back

Maximum amount of credit a cardholder can borrow; also known as Credit Line.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Annual Percentage Rate (APR)

Back

Yearly interest rate charged on debt.

Tags

CCSS.7.RP.A.3

Front

Retail Credit Card

Back

Same as a credit card but can only be used at the specific retailer.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Promotional Period

Back

No interest charged if debt is paid by end of promo; retailer’s special offer.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Deferred Interest

Back

Amount of interest forgiven if debt is paid in full by the end of the promotional period.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Accrued Interest

Back

Accumulated interest owed on the debt since the purchase.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Grace Period

Back

Time period with no interest on purchases; applies to all credit cards, not just special offers.

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 Line

Back

Same as Credit Limit.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C