Revolving Credit

A balance transfer APR is the annual percentage rate applied to transferred debt on a credit-card account.

A billing cycle is the recurring period used to group account activity before a statement is issued.

A cash advance APR is the annual percentage rate that applies to cash-advance balances on a credit-card account.

A due date is the deadline for making the required payment on a revolving credit account.

A minimum payment warning is a notice showing how long repayment may take if the borrower pays only the minimum.

Over-the-limit means the balance or account activity has gone beyond the approved credit limit.

A purchase APR is the annual percentage rate that applies to ordinary purchase balances on a revolving account.

Revolving-credit terms that explain reusable limits, changing balances, and the account dynamics behind utilization and minimum payments.

Revolving credit is reusable borrowing that allows balances to rise and fall within an approved limit.

A statement closing date is the date when a billing cycle ends and the statement balance is set.

A variable APR is an annual percentage rate that can change over time based on the account terms and market benchmarks.