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Credit Cards

Default

In finance, default refers to the failure to make timely payments as per the signed agreement between a cardholder and their bank. When an account is in default, the issuing bank has the right to charge a higher interest rate as a penalty for the missed payments. It is important to understand the terms and conditions of your credit card to avoid defaulting and incurring additional charges.

Standard Card

Credit cards are a common tool used for making purchases and managing finances. They are typically issued by banks or other financial institutions and come with a range of f...

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Minimum Payment

As a finance professor, it is imperative to understand the concept of minimum payment in credit cards. This refers to the minimum amount that a card holder must pay in order...

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Entrance Fee

As you navigate the world of credit cards, you may come across the term "entrance fee" or "joining fee". This fee, which is payable upon approval of your credit card applica...

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Credit Card

A revolving line of credit, determined by the holder's income, can be accessed through a credit card. The credit period, ranging from 20-50 days, is calculated from the bill...

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