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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%.

Credit Card

A revolving line of credit, determined by the holder's income, can be accessed through a credit card. The credit period, ranging from 20-50 days, is calculated from the bill...

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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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Purchase Protection

As a professor of finance, it's crucial to understand the concept of Purchase Protection. This insurance provides coverage for any purchases made with a credit or debit card...

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Revolving Line Of Credit

Credit cards provide a convenient form of borrowing money from a bank, known as a card issuing bank. This bank lends a predetermined amount to a card holder, which can be bo...

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