| A | B |
|---|
| annual fee | annual membership fee, if any, of a credit card or charge card. |
| annual percentage rate | the percentage cost of credit on a yearly basis. |
| billing error | any mistake in your monthly statement as defined by the Fair Credit Billing Act |
| cash advance | a loan taken out by charging an amount of cash to a credit card |
| finance charge | the total dollar amount you pay to use credit |
| grace period | period of time from the billing date of your credit card statement to the due date of your current bill, when you can pay in full without being charged interest. |
| fair credit billing act | this sets up procedures requiring creditors to promptly credit your payments and correct billing mistakes and allows you to withhold payments on defective goods. |
| equal credit opportunity act | this requires that all credit applicants be considered on the basis of their actual qualifications for credit and not be rejected because of certain personal characteristics. |
