Credit Card Terminology

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Across
  1. 3. The amount of time between the last statement closing date and the next. This must be at least 21 days.
  2. 7. The amount of credit you are using compared to the amount of credit you have available.
  3. 8. If you pay your credit card bill late, you will incur a fee.
  4. 10. The yearly fee charged for holding a credit card. You pay this whether you carry a balance or not
  5. 11. The least amount of money you must pay each month to keep your account current.
  6. 14. The amount of money you owe on your credit card bill.
  7. 15. You typically incur a fee for a cash advance. This may be a flat fee (minimum charge), or a percentage based on the cash amount withdrawn.
  8. 16. The interest rate you are charged if you do not pay off your credit card balance in full each billing cycle.
Down
  1. 1. The maximum amount of money that can be charged to a credit card
  2. 2. Taking debt from one credit card and moving it to a new card. This is usually done because the new card has a lower APR.
  3. 4. When you withdraw money from your credit card account. You can do this at an ATM or bank, but the fees are usually much higher.
  4. 5. The amount of time between the end of a billing cycle and when your bill is due.
  5. 6. The cost applied to balance transfers. This can be a flat rate, or a percentage of the amount transferred.
  6. 9. Charges different rates of interest, depending on the amount of money owed.
  7. 12. A lower-than-usual APR that you get for a set period of time when you open an account.
  8. 13. Card issuers may penalize you with a higher interest rate when you pay late.