K-N
Learn the key terms involved with credit and debt management. This glossary contains definitions and miniature lessons on the basic and advanced aspects of credit and debt management.
no limit credit card
a no limit credit card is a credit card that doesn't have a credit limit
late fee
fee imposed when your payment is received after the due date
minimum payment
Knowing the minimum payment on a credit card or loan is important to avoid fees and damage to your credit rating.
nonrevolving credit
Credit that cannot be used after payment.
maxed out credit card
A maxed-out credit card is not a good thing. Maxing out your credit limit can be expensive and harmful to your credit score.
no preset spending limit
Some credit cards some with no preset spending limit, but that doesn't mean you can spend as much as you want to.