Glossary of Terms

Annual Percentage Rate (APR)
The cost of your credit as expressed as an annual rate.

Automatic Payment Plan
A service which automatically makes credit card payments by transferring funds from your checking or savings account.

Available Credit
The amount of unused credit available. Available credit is computed by subtracting the current unpaid balance from your total credit line.

Balance Transfer
The process of moving an unpaid credit card balance from one issuer to another. Transaction fees may apply.

Billing Cycle
The interval between regular monthly statements. It includes the day after the previous billing cycle closing date through the current closing date of the account.

Cash Advance
A cash loan drawn from the available credit of your credit card account. There is no grace period for cash advances. Interest accrues daily until the complete balance is paid in full. Transaction fees may apply.

Credit Limit
The largest amount you can carry as the unpaid balance on your credit card.

PIN
Personal Identification Numbers (PINs) are secret numbers that customers use to access their accounts via ATMs.

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