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Glossary Of Terms

18 Credit Cards Terms Explained

Published by My Rate Compass Team | Updated Apr 05, 2020
Annual FeeThe yearly amount charged for the use of a credit card. APR-Annual Percentage RateAPR is an acronym for: Annual Percentage Rate. It is the interest rate that a customer is charged on any outstanding balance.Balance TransferThe process of transferring an unpaid balance from one open credit card account to another, usually from different financial institutions. You can save interest if you
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