Do Now May 6, 7
In your own words, define the following terms. No credit will be given for
definitions that are copied and pasted.
Annual Fee- A fee charge once a year for the benefits that you receive from
your credit card.
Annual Percentage Rate (APR)- the annual rate charged for borrowing on an
investment.
Credit- the ability of a person to get a good or service before it is paid.
Credit Card- card issued by a bank or business allowing you to purchase
things on credit.
Credit Card Offer- exclusive promotions from credit card companies which
give things such as discounts, sign-up bonuses and exclusive discounts.
Credit Limit- the most amount of credit that will be given by a financial
institution.
Due Date- the date on which a payment falls due.