Credit Card Glossary
Credit Card Types
No matter what kind of card and plan you choose, you should have access to the following information under the federal Truth in Lending Act so that you can compare one type of credit card to another before you sign on the dotted line.
Here is information about a credit card product that you have the right to know --
• The amount of finance charges in dollars and as an annual percentage rate (APR)
• The identity of the credit issuer or company providing the credit line
• The size of the credit line
• The length of the grace period (a period during which no interest is accrued on our charges), if any, before payment must be made
• Minimum payment required each month
• The amount of annual fees, if applicable
• The amounts of fees for credit insurance (if any), which pays off your loan if you die before the debt is fully repaid