Credit Definitions

Airline Rewards Credit Cards – cards which offer card users frequent flyer miles in exchange for using the cards for purchases

American Express –considered one of the top credit providers, most of their cards require a good to excellent credit rating

Annual Fee – fee charged on a yearly basis for having a specific card, fees most commonly found on airline reward credit cards or pre-paid debit cards

Annual Percentage Rate (APR) – the rate charged by a credit card company on an annual basis, this rate is compounded on a daily basis by a majority of credit offers; rate will vary by credit card and credit rating

Balance Transfer Cards – credit cards which allow you to transfer a balance to another account in most cases at a lower interest rate, then your current rate

Business Credit Cards – credit cards which are constructed to allow business owners to have a sole card or issue cards to their employees allowing an employee benefit to make company expenditures; annual and/or quarterly account reviews break down spending for business financials

Cash Back Credit Cards – credit cards which give a cash back reward, based on the amount spend using the credit card

Cash Back Rewards – rewards where your credit card company pays back a percentage of your balance to you