Credit Card Balance
Last weekend, you took a trip to Target. Then, when you were asleep, your wife took your credit card and went out and bought 23 picture frames and uploaded every picture she’s taken over the last 15 months to Shutterfly. Now, you’ve just received $256 in printed pictures, and they’ll remain in a box forever. That said, the payment made with your credit card will go directly onto your credit card balance.
This “balance” is the amount of money you owe your credit card company. Typically, card users have a day each month that their balance is due and their statement is issued. If you allow your credit card balance to go beyond your payment date, you may face late fees or pay interest on the balance. If you pay off the amount that you owe, you now have “zero balance.” Zero never felt so good.
Related or Semi-related Video
Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
Up Next
What is a line of credit? A line of credit is kind of like a loan. A bank gives a borrower a line of credit, which basically says they can borrow ...
What is the Credit Rating Agency Reform Act Of 2006? As signed by President George W. Bush in 2006, the Credit Rating Agency Reform Act required th...
What are Credit Scores and Worthiness? One of the most ubiquitous ways that digital society now dictates our lives is with business and personal cr...