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