Credit Demystified
Chapter 2: Credit Cards – An Owner’s Manual
Credit Cards – An Owner’s Manual
At the completion of this section, you will be able to:
- List the five important dates associated with the credit card billing cycle and grace period
- Explain the role of each date in the billing cycle and grace period
- Outline the order of the dates as they occur in the billing cycle
- Explain the difference between your account balance and your statement balance
- Explain the implications of paying your account balance, your statement balance, and making partial payments
- Summarize the impacts of the billing cycle and grace period on credit card interest charges
- Identify the differences between normal credit card transactions and cash advances
IN OTHER WORDS, at the completion of this section YOU will understand the malarkey and gobbledygook, be aware of the traps and tricks, and decrease your risk of paying unnecessary interest and fees. YOU will leverage your knowledge, claim your power, and put them to use in your favor.
next >> Section 2.1 – Timing
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