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Today's News About Credit Cards


* Related Definitions, Terms and Acronyms:
  • 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).
  • Installment credit - a type of credit that has a fixed number of payments, in contrast to revolving credit.
  • Credit card incentives, rewards, and rebates - credit providers often offer incentives such as frequent flier miles, gift certificates, or cash back (typically 1 %) to try attract customers to their program.
  • 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.
  • Charge cards - often used to incorrectly describe credit cards, are cards that do not extend the user credit but instead require that the charges be paid in full each month in full.

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