Glossary
- affinity credit card
A credit card typically offered through a partnership between a lending institution and a nonfinancial organization such as a school or a nonprofit. Generally, the organization receives a small percentage of each purchase made on the card. Additionally, cardholders might receive discounts or special deals from the organization.
- amount due
Refers to the minimum amount due (usually about 2% of the entire balance).
- annual fee
A yearly credit card usage charge billed directly to the consumer’s credit card account. Annual fees usually range from $15 to $85.
- annual percentage rate (APR)
A yearly interest rate used to determine finance charges. The APR must be disclosed for credit card purchases, cash advances, penalty rates, and ...
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