| A | B |
|---|
| overlimit fee | a fine assessed if you charge more than your approved credit limit |
| transaction fee | a charge for various credit activities, such as using an ATM machine, getting a cash advance, or using a courtesy check |
| amount due | term that some banks use synonymous with "minimum monthly payment" |
| annual fee | a one-time yearly charge similar to a membership fee |
| grace period | the period during which you can pay your credit card bill without incurring finance charges |
| finance charge | the total cost of using your credit card, including interest charges and other fees |
| minimum payment | the smallest payment you can make and still be in good standing. It is the most expensive way to pay your credit card bills |
| new balance | the total amount owed after new charges and credits have been calculated |
| monthly periodic rate | one-twelfth of your credit card. Typically has a one-time fee applied, is assessed a higher APR, and is granted no grace period. |
| annual percentage rate | a measure of the cost of credit, expressed as a yearly percentage |
| due date | the date of payment is due |
| late fee | a fee assessed if your payment is received past its due date |
| credit limit (credit line) | the maximum amount you can charge on the card |
| convenience user or deadbeat | someone who avoids interest and fees by paying her/his account balance in full each month rather than paying the minimum amount and carrying a balance |
| revolver | customer who does not pay her/his balance in full each month |
| usury | the practice of lending money and chaging the borrower interest, especially at an exorbitant or illegally high rate |
| OCC (Office of the Comptroller of the Currency) | is responsible for overseeing credit card policies |
| ABA (American Bankers Association) | represents banks of all sizes on issues of national importance for financial institutions and their customers |
