Ever since Stacey Smith got her credit card, she has been trying to decode the alien credit card terms that the credit card companies use. Deciphering credit card terms is a task in itself! The credit card companies use fancy language, which we don’t use in our everyday use. So much so that even filling the application form is a pain. What is needed is a good credit card glossary to enable mortals like us to understand credit card terms.

We have complied a simple to understand credit card glossary. It covers some of the most commonly used credit card terms.

Lets begin with the most basic “account number”. It refers to a unique number that is assigned to every credit card. Next in the credit card terms come “annual fees”. Some of the credit card holders are charged annually for holding the card. This is known as annual fees. Another credit card term that would be used frequently is “APR”. It is the rate at which card companies charge you every year for your account.

No credit card terms dictionary is complete without the term “balance transfer”. It simply means moving your credit balance from one credit account to another. It helps in saving your interest payments. A credit card term that most people are afraid to come across in credit card terms is “bad credit”. It means poor or bad credit rating. It can be caused by late payments, exceeding card limits etc.

 

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Michael, 25 years old and working in the United States for past one year was on the verge of going bald from trying to figure out the best credit card among the tons of emails that he received almost daily about the “pre approved credit cards”. Chances are that you too maybe going through the same dilemma of choosing the right credit card. As choosing the right credit card is not such an easy task as it looks at the first go, it becomes essential that you know some of the important things points before you eventually purchase the best credit card for yourself.

Most of the credit cards, which call themselves as the best credit cards, come with almost the same features, offering more or less the same rate of interest. In such a case, getting the best credit card becomes even more of an ordeal for the buyer. However when the rate of interest is more or less same, one should look for incentives offered by the various card companies in order to get the best credit card. Incentives and rewards can be of various kinds; depending on them you can opt for the best credit card. For instance you get reward points for every purchase that you make from the credit card and these points are redeemable from certain stores and outlets.

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After you pay off credit card debt.
credit card debt is a very big problem that is being faced by a lot of people who have been irresponsible and undisciplined in the use of their credit card. Though some might have landed up with credit card debt due to some unfortunate event/emergency in their life, most people carry a credit card debt due to their own wrong doings (i.e. wrong usage of their credit card debt).

There are a lot of ways to pay off credit card debt and a lot of people do achieve this feat (i.e. are able to pay off credit card debt). Surely, to be able to pay off credit card debt is really a great achievement in itself for not everyone is able to pay off credit card debt. It takes a lot of discipline, restraint, planning and perseverance to finally pay off credit card debt.

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