The abbreviation MM/YYYY on a credit or debit card refers to the two-digit month and four-digit year of the card's expiration date. If this date has passed, you won't be able to use your card, so make sure your bank sends you a new one before your old card expires. The expiratio...
When it comes to managing your finances, it’s important to understand all the terms and abbreviations associated with credit cards. One commonly used abbreviation you may come across is “CR,” which stands for “credit” or “credit received.” But what exactly does CR mean on a credit ca...
What does intro 0% APR mean? “APR” stands for “annual percentage rate.” It refers to the interest rate that your credit card issuer charges you for using your card. An introductory 0% APR means that a credit card doesn’t accrue interest (on purchases or balance transfers, depending...
It is important to note that credit card companies often impose a minimum fixed amount, such as $25, to ensure that the minimum payment does not become disproportionately low for larger balances. This safeguard prevents the minimum payment from dwindling to an insignificant sum, thereby enabling t...
The security code for most cards is found on the back, yet American Express lists its security codes on the front of each card instead. How does a credit card account number work? Your actual account number may be up to 12 digits long, and it identifies you as the owner of the credit...
A credit card number is the long set of digits that appear on the front or back of your credit card. It is used to identify your credit card account and authorize purchases.
"Taking an imprint" means putting your card info on file in case you incur additional charges. The term comes to us from the early days of credit cards.
If you carry a balance, you'll have to pay interest on that amount. So, what about a negative credit card balance? What is a negative credit card balance? A negative credit card balance is when your balance is below zero. It appears as a negative account balance. This means that your...
Does pre-approval for credit cards mean I’m approved for a credit card?No, pre-approval doesn’t mean you’ve already been approved for a credit card. Credit card pre-approval just means that you might be a good candidate for an offer based on the credit card issuer’s initial ...
What is instant approval and how does it work? Instant approval credit cards are exactly what they sound like. When you apply for an instant approval card, you’ll get your approval decision as soon as you complete your application. A bank or lender will quickly examine your credit score an...