1. Business & Finance

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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.

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