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APR
Measures the cost of credit in a yearly interest rate.
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Average Daily balance
most common way of calculating interest adds to your daily balance.
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Cash advance
Using your credit card to get cash, interest starts immediately
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Grace period
time given to pay off all charges without finance charge
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interest
price borrowed pays a creditor for the use of money
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Minimum Payment
min amount you must pay each month
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over the limit
When you charge more then your credit allows
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annual fee
the cost of owning the card
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installment credit
used to get big ticket items
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Revolving credit
Pay a bill each month to avoid late fee
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Special endorsement
Transfer the money to someone else
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Debit card
Money is taken right out of a checking account
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Atm
Gives you money right away
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Over draft
Fee given when you take out more then you have in
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Blank endorsement
Signing the back of the check to cash it
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Safety deposit box
A box you can keep valuable in
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Transfers
A fee applied when you ask the bank to move money from one account to another
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Money order
buying check for the amount you need
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Travelers check
Checks issued by a bank which function as cash, but is protected against loss or theft
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services charge
fee issued by the bank when they do something for you
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stop payment
an order to the bank not to honor the payment of a check
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free checking
no charge checking, no min balance, for students and seniors
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restricted endorsement
most secure, states deposit only and sign. No changes can be made after that
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