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Annual Percentage Rate (APR): This number is a measure of the cost of credit, expressed as a yearly rate. It must be disclosed before you become obligated on the account and on your account statements.

Annual Fee: The fee charged for your card on a yearly basis. Depending on issuer some credit card providers may charge an annual fee, typically below the $50 dollar range, nevertheless some choose not to charge any amount. This latter type is called the no annual fee credit card.

Balance Transfer Fee: A fee for transferring balances from another card to this card, if any.

Debit Card: Payment card whose funds are withdrawn directly from the cardholder's checking account at the time of sale (online debit) or after the batch settlement occurs (off-line debit).

Cardholder: Any person who holds a payment card account.

Grace period: The number of days you have to pay your bill in full without triggering any finance charges. With most plans, the grace period applies only to purchases; cash advances and balance transfers may start accruing interest immediately.

Transaction Fees and Other Charges: Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.