About the Video
Whether you’re new to credit cards or have used one for years without knowing the terms, here are some common terms you should know!
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โฌ๏ธ Timestamps:
0:00 โ Introduction
0:18 โ The Cardholder and the Merchant
0:51 โ The Credit Card Issuer
1:44 โ Credit Limit
2:44 โ Billing Cycle
3:55 โ Statement Balance vs Outstanding Balance
5:19 โ Statement Closing Date and Payment Due Date
6:18 โ Minimum Required Payment
7:40 โ Service Tax and Annual Fee
8:32 โ Interest Rate
10:16 โ Conclusion
Credit cards can be a great asset when used responsibly. But it can be tricky if you don’t understand exactly how they work. Credit card terms and conditions are often filled with confusing jargon that can be hard to decipher, even for seasoned cardholders. You could pay late fees, interest, and other charges as a result of missing one small detail in your cardmember agreement — that’s how important it is to understand the credit card terms in your agreement. Which is why, in this video, I have put together a list of common credit card terms your should know as a credit card holder.
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Disclaimer: This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registered broker and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visit www.interactivebrokers.com.
