Credit Card Words

Front

Extra money you pay to use credit.

Back

Interest

Front

The amount you still owe the credit card company (or on a loan) is called this.

Back

Balance

Front

Includes interest and all other charges you have to pay.

Back

Finance charges

Front

The highest amount you can charge on your credit card.

Back

Limit

Front

Something that can change can be described in this way.

Back

Variable

Front

The percentage of the balance charged as interest over a year.

Back

APR (Annual Percentage Rate)

Front

The minimum amount you must pay on your credit card each month.

Back

Minimum payment

Front

A fee charged by the credit card company for using their card, typically annually.

Back

Annual fee

Front

A record of all transactions made with a credit card.

Back

Statement

Front

The process of borrowing money to make a purchase and paying it back later.

Back

Credit