Credit Card Vocabulary

The yearly fee tio own a credit card is

What is the interest rate charged on an OUTSTANDING balance?

What is the interest rate charged per month (or per day)?

An interest rate that can change over time. The lender must notify the borrower.

The time in which you are allowed to pay your bill WITHOUT penalty is called a

The MAXIMUM amount that can be charged (also called credit line)

The amount that can be charged without going over the credit limit.

Total cost of borrowing, which includes interest and fees

The lowest amount the borrower will have to pay when carrying a balance is

The amount still owed from a previous statement