Credit Cards

An annual fee is the recurring yearly charge attached to some credit cards.

A balance transfer moves debt from one credit account to another, usually to change the rate or repayment structure.

A cardholder agreement is the contract that sets the credit card's rates, fees, payment rules, and account terms.

A cash advance is a credit-card transaction that gives access to cash or a cash-like amount instead of an ordinary purchase.

A cash advance fee is the charge applied when a credit-card transaction is treated as a cash advance.

A chargeback is the reversal process used when a card transaction is challenged and the issuer takes the dispute back through the payment system.

A credit card is a revolving credit account that lets a borrower make purchases up to an approved limit.

Canadian credit-card terms such as statement balances, grace periods, minimum payments, and day-to-day account use.

Current balance is the live amount currently owed on a credit card after recent purchases, payments, and credits.

A grace period is the interest-free purchase window that can apply between a card statement date and its payment due date.

A joint card account is a credit card structure shared by two borrowers at the account level.

A minimum payment is the lowest amount the issuer requires by the due date to keep a card account current.

Over-limit means the card balance has moved above the approved credit limit.

A promotional balance transfer is a limited-time offer that applies special pricing or terms to transferred card debt.

A purchase interest rate is the credit-card rate that applies to ordinary purchases when the balance is carried.

A secured credit card is a card account backed by a security deposit or other pledged support.

A statement balance is the amount shown as owing when a card billing cycle closes.

Statement date is the date when the card billing cycle closes and the statement snapshot is produced.

A supplementary cardholder is an additional person allowed to use a primary card account.

An unauthorized charge is a card transaction the consumer did not approve or make.