Free credit report and scores Salisbury

The higher your balance, the lower free credit report and scores Salisbury your available credit. Balance Transfer- The process of moving debt from one creditor to another.

Card issuers often offer low interest rates on balance transfers to entice new business. Credit Limit- The maximum amount you can charge to your card.

If you go over this limit, heavy fines are applied by the creditor. Grace Period- The amount of time after your payment due date and before late fees are applied to your account. If you have already used your grace period in a previous free credit report and scores Salisbury month, you may not have one available.

Balance transfers and cash advances usually do not have grace periods. Introductory Rate- Also free credit report and scores Salisbury called a Teaser Rate, this is when credit card companies offer low introductory interest rates to get your business. free consumer credit report However, they very often balloon to much higher rates later. Minimum Payment- The minimum amount you can pay each month and still avoid going into default. For free credit report and scores Salisbury example, making the free credit report and scores Salisbury minimum payment on $5000 each month will result in you paying almost $2000 in interest alone.

Principal- The amount of money you borrowed before interest is applied. Transaction Fees and other charges- free credit report and scores Salisbury Many credit cards contain costs outside the free credit report and scores Salisbury normal monthly payments. a credit report Cash advance fees, late free credit report and scores Salisbury fees and over the limit fees are a few examples. The credit world is full of jargon and slang only those in the know are familiar with.

Do not get taken for a ride because you do not understand the terms.

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Remember- do your research and find products that are best for you. For a good start, try Christian Whitings outstanding program Debt Busters at http://familybudgetguide.info. Tags: Credit, Terminology Posted in fixed rate credit cards | Comments Off If youre a student, it is understood that you dont have an established credit history. get free credit reports