Glossary of Financial Terms

Credit Card Definition List A to Z

Affinity Credit Card:

A credit card that benefits an organization other than the issuer, such as a university or a charity.

Age Requirement:

You must be at least 18 years of age (21 years of age in Puerto Rico).

Annual Fee:

Some credit cards companies charge an annual fee; it is the yearly cost you pay to use the card.

Annual Percentage Rate (APR):

The Annual Percentage Rate is a measure of the cost of credit expressed as a yearly rate.

Application:

A form used to apply for credit.

Asset:

Cash or anything you own that can be turned into cash. This includes property, goods, savings or investments.

ATM:

Automated Teller Machine

Available Credit:

Available credit is your Credit Line minus your current balance and any pending charges. It is the unused portion of your Credit Line.

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