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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%.

Card Holder Agreement

As a financial expert, I'm sure you're familiar with the fine print statement of terms and conditions that one must sign when obtaining a credit card. This document outlines...

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Secured card

A secured card is a form of credit card where the cardholder pledges their Savings deposit as a guarantee for payment to the bank. This type of card is often utilized by ind...

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Lost Card Liability

As a responsible financial consumer, it is crucial to understand the procedure for dealing with a lost or stolen card. In such an unfortunate event, the first step is to pro...

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Free Credit Period

In the world of finance, there exists a concept known as a free credit period. This period, typically lasting between 20 to 50 days, is a time frame in which the card holder...

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