Credit Cards
Credit-card terms that explain account structure, pricing choices, and common card features in everyday consumer use.
Credit card pages explain the account type most people interact with most often in consumer credit. This section covers the core product, the way balances move, and the special features or offers that can change the account’s real cost.
Use these pages when reading card disclosures, comparing offers, or sorting out what kind of card account you already have.
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In this section
- Credit Card
A credit card is a revolving credit account that lets a borrower make purchases up to an approved limit.
- Unsecured Credit Card
An unsecured credit card is a card account that is not backed by a cash security deposit.
- Balance Transfer
A balance transfer moves debt from one credit account to another, often to change pricing or repayment conditions.
- Statement Balance
A statement balance is the amount shown as owed at the close of a credit-card billing cycle.
- Current Balance
A current balance is the live amount presently owed on a credit-card account.
- Grace Period
A grace period is the time in which a credit-card balance can be paid without triggering purchase interest under normal terms.
- Late Fee
A late fee is a charge assessed when the required payment is not made by the due date.
- Cardholder Agreement
A cardholder agreement is the contract that explains how a credit-card account works, what it costs, and what rules apply.
- Cash Advance
A cash advance is credit-card borrowing taken as cash rather than as a standard purchase.
- Chargeback
A chargeback is a card-network reversal process used when a borrower disputes a transaction and the issuer pushes the claim back through the payment system.
- Penalty APR
A penalty APR is a higher annual percentage rate that may apply after serious account problems such as late payment.
- Annual Fee
An annual fee is a recurring charge for keeping a credit-card account open.
- Intro APR
An intro APR is a temporary promotional annual percentage rate offered for a limited period on a credit card.
- Foreign Transaction Fee
A foreign transaction fee is an added charge for certain purchases processed outside the borrower's home currency or country.