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Credit card glossary terms to know for when you move


Moving is stressful enough without having to worry about your credit, but if you’re not careful and don’t plan ahead, the opportunities for a move to cause credit chaos can multiply.

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Moving is stressful enough without having to worry about your credit, but if you’re not careful and don’t plan ahead, the opportunities for a move to cause credit chaos can multiply. Plus, research has found that moving is a time when people change credit cards or apply for more credit, so finding the right credit card terms to help you through your transition is important. (Back to glossary of common credit card terms.)

Glossary terms to know for when you move 

Annual fee — An annual (yearly) fee charged by a credit card company each year … (more)

APR — APR stands for annual percentage rate … (more)

Automatic payment — Automatic payments authorize regular withdrawals … (more)

Available credit — Available credit is the amount that is available to be charged … (more)

Balance transfer — A balance transfer is when the balance of one credit card … (more)

Balance transfer fee — A balance transfer fee is a fee charged by a credit card company … (more)

Balance-to-limit ratio — Balance-to-limit ratio is used in the calculation … (more)

Cash advance — A cash advance is a cash loan from a credit card … (more)

Charge back — A charge-back is a transaction returned … (more)

Charge-back period — The charge-back period is the number of days … (more)

Co-signer — A co-signer is a person who signs an agreement … (more)

Convenience checks — Convenience checks are checks linked to your credit line … (more)

Credit bureau — The three major credit bureaus are Experian, Equifax and TransUnion … (more)

Credit history — Credit history is the record of use of debt. In the United States, three … (more)

Credit inquiry — A credit inquiry is created when a lender pulls someone’s credit record … (more)

Credit limit — A credit limit is the amount of money that can be charged to a credit card … (more)

Credit line — A credit line is the amount of money that can be charged to a credit card … (more)

Credit report — A credit report is a compilation of the credit history of an individual or … (more)

Credit score — A credit score is a three digit number that summarizes how well a … (more)

Credit utilization ratio — A credit utilization ratio is used in the calculation of credit … (more)

Debt consolidation — Debt consolidation is the combination of multiple loans with a … (more)

Default — To default is to fail to make a payment on a debt by the due date. If this … (more)

Default APR — If you are late in making payments, your standard APR may increase … (more)

Due date — Credit card bills have a due date. If your credit card payment does not arrive … (more)

FICO score — A FICO score is a particular type of credit score — one offered by the Fair … (more)

Fixed rate — An annual percentage rate that does not change throughout the year … (more)

Foreign transaction fee — Foreign transaction fees are charged by most credit card … (more)

Fraud alert — A fraud alert is a security alert placed on a credit card account or credit … (more)

Hard inquiry — Hard inquiry is a credit scoring term. It describes when a consumer has … (more)

Introductory rate — Introductory annual percentage rate (APR) is a low rate offered by a … (more)

Joint account — A joint account is a bank account equally shared by two or more … (more)

Late payment fee –A late payment fee is charged to a borrower who misses paying at … (more)

Minimum payment — The minimum payment is the lowest amount of money that you are … (more)

Online bill presentment and payment — Online bill presentment and payment is a … (more)

Overdraft protection — Overdraft protection is a service that automatically transfers funds … (more)

Overlimit — Being overlimit, or over-the-limit, refers to a cardholder account that has … (more)

Payment due date — The payment due date is the monthly date when at least a … (more)

Reward card — A credit card carrying an incentive or “reward” for use, typically involving … (more)

Schumer Box — The Schumer Box is named for the then-chairman of the Senate … (more)

Teaser rate — Also called the introductory rate, the teaser rate is the annual percentage … (more)

See related:Glossary of common credit card terms, Manage your credit cards before, during and after a move, Moving abroad? Your credit history in the U.S. won’t follow, Tips for immigrants building a U.S. credit history, Leaving debt behind in another country

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