credit cards
a type of loan, where the money you spend is actually borrowed from the card provider rather than debited from your personal account.
what is a credit card?
Used with your checking account. Any money you charge on a debit card comes right out of your checking account immediately.
what is a debit card?
FICO scores range
What is 300-850?
You put money on a card and can buy things with it.
what is a prepaid card?
The yearly interest rate charged on outstanding credit card balances.
What is APR?
In most cases, you need to be 21 years old or have an adult co-signer to apply.
what is a credit card?
In most cases, you need to be 21 years old or have an adult co-signer to apply.
what is a credit card
a FICO score between 700 and 749
What is a good FICO score?
shop for one that has the lowest fees, doesn't expire and is accepted everywhere.
what is choosing a prepaid card?
The maximum dollar amount that can be charged on a specific credit card account.
what is credit line?
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.
what is overdraft protection?
a fee for spending more money than you had the funds for.
what is an overdraft fee?
a FICO score of 750 or higher
What is an excellent FICO score?
a prepaid card that is good at only one store and must be spent within six months.
what is a bad prepaid card?
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.
What is introductary rate ?
a penalty charged by your credit card company for not paying your bill on time.
what is Late Payment fee?
used to complete a transaction without a signiture at an ATM.
What is a pin number?
help lenders determine the credit risk associated with loaning you money.
What is a FICO score?
Credit isn't required to get one, but having one doesn't build credit, either.
what is a prepaid card?
Bills can be paid automatically via credit card, consolidating several payments into a single sum.
what is Bill Consolidation ?
A printed booklet a credit cardholder receives that contains all the "fine print" about the card's terms.
what is Cardholder Agreement?
an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.
what is an ATM?
the three main credit bureaus
what is Experian, TransUnion, and Equifax?
a type of pre paid card that can be used anywhere.
what is A visa prepaid card?
Credit can help with unexpected emergency expenses and give you the flexibility to pay them over time.
what is Instant Purchasing Power?