Credit Card Vocab Terms (Schumer Box)

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APR (Annual Percentage Rate)

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The yearly interest rate charged on unpaid credit card balances.

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Introductory APR

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A special lower rate (often 0%) offered for a limited time when you first open a card.

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Penalty APR

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A higher interest rate charged if you break the card’s rules (like missing a payment).

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Cash Advance

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Taking out cash using your credit card, usually with high interest and extra fees.

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Cash Advance Fee

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A charge added when you withdraw cash using your credit card.

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Balance Transfer

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Moving debt from one credit card to another, often to get a lower interest rate.

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Balance Transfer Fee

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A fee for transferring a balance from one card to another.

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Foreign Transaction Fee

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An extra charge for purchases made in another country or currency.

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Minimum Payment

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The smallest amount you must pay on your credit card bill to avoid penalties.

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Due Date

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The last day to make at least your minimum payment each month.