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CC-What You Need to Know

Annual fee - annual fee, the fees charged by credit card issuing bank to issue your credit card. If charged monthly, called the monthly fees or monthly fee. Annual fees vary around $15 for classic card / silver, $30 gold cards, and for $60 platinum card.

Cash Advance, a cash withdrawal facility to cut your credit card limit. Cash Advance can be made through an ATM or at the relevant bank counter. Cash advance interest rate charged is usually higher than expenditure.

Credit Shield is an optional program protection bill which will be subject to a particular premium on your credit card bills. The benefits of this program is if you are not able to temporarily, will be paid the minimum payment and the payment penih event of permanent disability or death.

Friction Cash, is a transaction where the merchant purchases goods but does not give cash. Unlike the cash advance, cash carried in a string merchant. Please note that the bank strongly disagree with this practice and not all merchants provide this facility.

Supplementary, the facilities provided by the credit card issuer if the card holder to provide facilities to the relatives parent / husband / wife families where the use of additional card holders to be fully responsible primary cardholder.

Credit Card Limit, is the maximum limit that you can use to shop and cash advance. If you are spending exceeds this number, your transaction can be rejected or approved, but you will be charged over-limit.

Cash Advance Limit, is the maximum limit which you can use to pull cash from an ATM or bank counter. Normally less than Limit Cards.

Minimum payment is the minimum payment your credit card bills. Usually min $5 or 10% of the total bill. Do not ever pay less than this number, as you will be considered delinquent. The risk is more severe in arrears of pay late.

Credit Card Holder Agreement, is a publisher agreement holders CC and CC. While writing little bit and difficult to read, you should read carefully so you know your rights and obligations.

Annual Interest Rate, the interest rate charged by credit card issuing bank if you do not pay the full bill or spending your advvance cash at maturity. Interest rates are generally spending less than the cash advance interest rates.

Maturity Date, is the final frontier for you to make credit card payments. Please note that the payment process can take up to 3 business days. Banks do not care how you transfer date, which is used is the date on which such payment into bank accounts. Therefore, it is advisable to pay 3-4 days before the due date. Failure to pay past the due date will be charged a late payment and will also be recorded in the SID that will hurt your reputation.

Transfer Balance billing is a program to move families into account your other CC. Like you have X number of bills issued by CC XYZ bank and transfer the balance to make CC issued by bank ABC. So ABC will pay the bank your bank charges and charge the XYZ to your account at the bank CC ABC.