The interest rate charged on a loan, credit card, or mortgage over a year’s time. This is a separate fee from interest rate on purchases.
The fee charged annually by a credit card company to its cardholders.
Projects the year to date return over a full 12 month calendar year. Most useful for projecting return for money market funds, CDs, and bonds. Annualized return for equities can be misleading if YTD return is high and covers a short period of time.
The transfer of an existing account balance (in part or in whole) to a different account, usually an account held with another creditor.
Balance Transfer Fee
The fee charged by a credit card company when moving a credit card balance from one credit card to another. Usually 1 percent to 5 percent of the balance amount.
An assessment of the credit worthiness of a borrower in general terms or with respect to a particular debt or financial obligation.
A detailed report on an individuals payment hand borrowing history.
Net income (NI)
NI is the difference calculated when subtracting expenses from revenue.
A type of mortgage loan that enables the borrower to buy a home.
Unsecured Credit Card
A type of credit card that is not secured by collateral and does not require the credit line to be backed by a corresponding bank deposit.