Financial Management Orientation

Credit Cards – What to know

  • Annual Percentage Rate (APR):  The amount of interest charged to your balance
  • Grace Period: Amount of time before interest is charged to your purchases
  • Credit Limit: Maximum amount you can charge to your card
  • Finance Charges: The amount you are charged to carry a balance on the card
  • Fees: Credit cards can have any number of fees, including: annual fee, cash advance fee, late-payment fee, over-credit limit fee
  • Cash Advances: Withdrawing money against your credit limit, fees are often associated with this


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