Credit Card Glossary
Truth in Lending Act
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 loan to another.
This is the kind of information that you have the right to know when comparing credit cards …
• Finance charges in dollars and as an annual percentage rate (APR)
• Credit issuer or company providing the credit line
• Size of the credit line
• Length of the grace period, if any, before payment must be made
• Minimum payment required
• Annual fees, if applicable
• Fees for credit insurance (if any), which pays off your loan if you die before the debt is fully repaid