Adulting 101

The yearly interest rate charged on outstanding credit card balances is called?

• APR

• Introductory Rate

• Credit Bureau

• Minimum Payment

An interest rate offered by credit card issuers in the initial stages of a loan. These rates are often set much lower than standard rates in order to attract new cardholders.

• APR

• Annual Fee

• Credit limit

• Introductory Rate

The once-a-year cost of owning a credit card. Some credit card providers offer cards without these.

• Balance

• Annual Fee

• Minimum Payment

• Introductory Rate

A banking service that allows you to link your checking account to your credit card, thereby protecting you from overdraft penalties or bounced checks in the case of insufficient funds.

• APR

• Overdraft Protection

• Introductory Rate

• Minimum Payment

A reporting agency that collects information on consumer credit usage.

• Credit score

• Credit limit

• APR

• Credit Bureau

Refers to the amount of money owed.

• Minimum Payment

• Credit Bureau

• Credit card balance

• Credit score

A financial institution's evaluation of an individual's ability to manage debt.

• Balance (debit card)

• Credit score

• Credit limit

• Credit Bureau

The maximum dollar amount that can be charged on a specific credit card account.

• Credit limit

• Credit score

• Credit Bureau

• APR

The minimum amount of money that you are required to pay on your credit card statement each month in order to keep the account in good standing.

• APR

• Annual Fee

• Minimum Payment

• Overdraft Protection

Refers to the amount of money in a savings or checking account.

• Annual Fee

• Debit Card Balance

• Credit score

• Minimum Payment