10 Credit Card Terms Explained

A Credit Card Glossary

The Credit Card Accountability Responsibility and Disclosure Act of 2009 has certainly played a part in improving transparency when it comes to dealing with a credit card issuer, but it didn’t completely eliminate industry jargon from product applications. As such, credit newbies may easily be confused by terms like “APR,” “grace period” and even “minimum payment.” MainStreet took look at what each of these terms (and more) mean so you can finally understand all the terminology in your credit card statement. Photo Credit: Getty Images