03/20/2022
5 Credit Card Terms You Should Know 👀
APR—The interest rate on your credit card is also referred to as the annual percentage rate, or APR.
Fees—In addition to charging interest, most credit cards have fees such as an annual fee for simply having the card.
Rewards—Credit cards may offer you cash or points that can be applied toward benefits such as travel or merchandise.
Finance charges or late fees—If you’re late making a payment or if you only pay part of the balance, you may be charged an additional fee. You may also incur a charge for a balance transfer.
Credit limit—This is the predetermined limit that you can charge to your credit card. If you establish a track record of responsible usage and timely payments, the financial institution may increase your credit limit. If you exceed the credit limit, you may be penalized.
www.EMPCreditRestorationServices.com
