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Credit Cards

Annual Percentage Rate (APR)

Greetings, class. Today, we will be discussing an important concept in the world of finance: the annual percentage rate, or APR. This is the interest rate that is charged to credit card holders on any balances that are not paid in full by the due date. While some card issuers may advertise a seemingly low monthly interest rate, it's important to note that when calculated over the course of a year, this rate can reach as high as 43%.

Late Payment Fee

Credit card late fees are an important aspect of understanding the cost of borrowing money. It refers to the fee charged to a cardholder when their monthly payment is not re...

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Balance Transfer

Balance transfer is a term used in the financial world to describe the process of transferring unpaid credit card dues from one issuer to another. This practice is commonly ...

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Annual Fee

period and is due on the first day of the billing period. In the world of finance, there exists a concept known as "payable in advance." This refers to a payment that is not...

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Charge Card

A charge card is a type of payment card that requires you to pay off the full amount of your purchases by the due date. Unlike credit cards, charge cards do not allow you to...

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