Annual Percentage Rate (APR) is a measure of the cost of borrowing, expressed as a yearly interest rate. It includes interest as well as other fees and charges for a loan.
Cashback refers to the option given to customers to receive cash back while making a purchase with a debit or credit card at a point-of-sale terminal.
Legislation designed to curb fees, interest rate increases, and other abusive practices by credit card companies. The legislation went into effect fully in February 2010.
A finance charge is a fee imposed for the privilege of deferring payment of a debt or for borrowing funds. It is commonly used in credit card transactions and loans.
A nonbank bank is an institution that provides most of the services of a traditional bank but is not a member of the Federal Reserve System and does not have a charter from a state banking agency.
An Outstanding Balance is the amount of money currently owed on a debt. This figure represents the total unpaid portion of a loan, credit card, or other financial liability at any given time.
