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Today's News About Credit Cards


* Related Definitions, Terms and Acronyms:
  • Revolving credit card or account - a credit card or credit account while allows the user to carry a balance (a revolving balance) each month by paying a minimum amount. This flexibility comes at the cost of interest charged by the credit card companies.
  • Filling station or petrol station - see gas station.
  • Compound interest - interest which is regularly added to the debt (called compounding) and is calculated over the principal PLUS over the interest already accrued to the debt (over the total amount owed).
  • Gas theft - the removal of gasoline from a station without payment. Typically the thief will usually use some form of decoy to prevent nearby witnesses from noticing the lack of payment until they have left the station. Common decoys include pretending to press the wrong buttons after swiping the credit card, or having multiple people get gas at the same time with one paying for another person and the other running off with both cars.
  • Installment credit - a type of credit that has a fixed number of payments, in contrast to revolving credit.

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