Credit Card Knowledge
Outlines important information about a credit card, including transactions the cardholder has made during that billing cycle and the current balance on the credit card.
What is Credit Card Statement
A yearly fee that may be charged for having a credit card.
What is an annual fee
The cost of credit expressed as a yearly interest rate.
What is the annual percentage rate (APR)?
Credit Cards with no annual fee
What is STCU Mastercard and STCU Rewards World Mastercard
Minimum Monthly Credit Card Payment for each STCU Credit Card
2% (Minimum $25)
The maximum amount of charges allowed to the account.
What is the Credit Limit
When a consumer has passed an initial credit check.
What is pre-approved
Transferring debt from one credit card account to another.
What is a balance transfer
What STCU Credit Card(s) have a fixed rate?
What is STCU Mastercard
What is the cash advance fee for an STCU credit card?
What is $5 or 3% of the amount advanced
What are two results of not using credit cards properly?
What are a negative credit history, and a lower credit score
A loan which the borrower must repay the amount in a specified number of equal payments.
What is closed-end credit
A number that summarizes an individual's credit record and history.
What is Credit Score
Best Credit Card option for member who occasionally/often carry balances month to month
What is STCU Mastercard
How long must a member have an STCU Credit Card before requesting to change to another type
What is at least 12-months
How does closing an old, paid-off credit card affect your score?
What is it could hurt your credit score because it lowers your total available credit and decreases the average age of all your accounts.
A plastic card that is electronically connected to the cardholder's bank account.
What is an debit card
An example of positive credit card use.
What is paying card balances in full every month, paying card bills on time, applying for only cards that are needed, keeping track of all charges, and checking monthly card statement for errors
What is STCU Premier Rewards World Mastercard
What STCU Credit Card has an annual fee and what is the fee amount?
This is the first step to applying for a credit card.
What is comparing different credit card offers and determining which card to apply for?
A line of credit established in advance so that the borrower does not have to apply for credit each time new credit is desired.
What is open-end credit
Two types of transaction fees for a credit card.
What are balance transfer fees and cash advance fees
Do reward points expire?
No, IF the account has purchases in the past 24 months
The STCU Premier Rewards World Mastercard offers accelerated rewards earnings of ___ travel, ___ member selected categories, ___ rewards on all other purchases
What is 3x travel, 2x member selected categories, 1x rewards on all other purchases