Credit Card Jargons for Dummies
For most consumers, the fine print on credit cards isn’t examined when the account has been opened. Unfortunately, this fine print can outline the terms and conditions of the card therefore, it is essential that the card holder be aware of the terms which are explained.
Although, those consumers that do read the fine print – are you really able to distinguish between the credit card terms mentioned in the fine print? Use this primer to guide you along the next time you become immersed in the fine print.
Annual Fee
The annual fee on a credit card is a separate entity from the interest charges which accrue as a service charge for credit card usage. There are hundreds of credit cards available that come without the average annual fee of $50.00 – even most rewards cards! When searching for a credit card, remember that the annual fee will be tacked on to your first payment once the account has been opened and usually at the beginning of the year after the account has been established. (more…)