The charge for the use of credit, consisting mainly of interest costs, but also including other fees such as cash advance fees. An interest rate that changes only if the issuer notifies cardholders through an amended cardholder agreement. Federal law stipulates a minimum of 15 days advance notice is required. A credit card providing above average benefits, including travel services, rental car insurance, and insurance for items purchased. A period of 20 - 30 days during which interest is not charged for new purchases.
Many card issuers offer such a program.
However, this feature is usually available only to those cardholder who do not carry a balance from the prior month but have paid the full amount due in the prior month. Late Payment Fee A fee charged for failing to submit the minimum monthly payment by its due date. Due The smallest amount which you may pay and maintain a current account. The most common interest rate factor used to calculate the interest charges on a monthly basis. The factor is computed by dividing the yearly rate by 12.