A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Introductory APRA temporary low or zero interest rate offered on a new card for a limited time before the standard rate takes over.
- Purchase APRThe interest rate applied to everyday purchases on a credit card when you carry a balance past the grace period.
- Credit CardA card that lets you borrow from a lender for purchases up to a limit, requiring repayment and charging interest on unpaid balances.
- Finance ChargeThe total cost of borrowing on an account for a period, including interest and any applicable fees.
More in Credit & Debt
Plain-English education — not personalized legal, tax, or investment advice.