| A | B |
|---|
| down payment | part of the purchase price |
| installment contract | agreement to pay the unpaid balance |
| finance charge | difference between the installment price and the cash price |
| transactions | events that need to be recorded on the statement |
| previous balance | ending balance from the previous statement |
| late fee | $$ charged for the late payment of an account |
| credit limit | the maximum amount of credit extended to the customer |
| over the limit fee | $$ charged for exceeding the credit limit |
| credit | amounts subtracted from the card balance |
| return | taking a purchase back to the seller for credit |
| cash advance | borrowing cash from the credit card company |
| finance charge | interest charged on an unpaid balance |
| grace period | time to pay your credit card balance in full before any interest charges begin to accrue |
| annual percentage rate | the annual (yearly) interest rate |
| monthly periodic rate | the annual percentage rate divided by 12 months |
| new balance | theunpaid balance plus any purchases or debits minus any credits or returns |
| minimum payment due | the minimum amount that must be paid on the account |
