In the world of business, credit cards are a form of loans from the trust (in this case the bank institution or other financial institution) to the borrower because they have the attitude of trust and honesty. Therefore, it provides funds in the form of loans to be paid pending. With a credit card, your transaction will be bailed out in advance by bank card issuers. Each month you must pay the bill of how much the use of a transaction that you make to the credit card.
Some terms are often used in credit cards:
1. Credit Card Limit.
Credit cards have a maximum number of transactions that can be used, and the magnitude depends on the type of credit card that we have (silver, gold, or platinum). The maximum credit limit is commonly referred to as "credit card limit".
2. Joint Credit Limit.
If you have a credit card with an additional card, two cards are combined credit limit. For example your card limit is one thousand dollars then you have an additional card in the name of your wife, then these two cards total limit is one thousand dollars. This limit is referred to as the combined limit.
3. Date Print Billing.
Some call the "date of account", as the date when all the transactions you have done in one month backward recorded. For example your billing date printed on 10th of every month, then the instance is now the 10th of May, all transactions that you are doing as of 11 April to 10 May will be recorded in billing your credit card bills.
4. Date falling Tempo.
Is the deadline for you to pay credit card bills. The maturity date usually ranges from 14 to 20 days from the date of billing print (depending on the bank concerned). Suppose the date printed on your credit card billing date of 10 per month, then the due date of your credit card ranges from the 24th of each month. Date of transaction is where you make purchases / cash withdrawal with credit card payments.
5. Date of Posting / Bookkeeping.
Is charged on all transactions you make to your credit card bills.
6. Minimum Payment.
Is the minimum number of bills you must pay before the due date. The central bank requires that the credit card minimum payment is 10 percent of the total bill.
7. New bill.
Is the sum total of all charges in accordance with new transactions that you have done.
8. Old Balance.
Is the total amount of your bill in the previous month.
9. New Balance.
Is the amount you pay. The new balance is obtained from the old balance minus total payments that you have done and added to the total of the new bill.
10. Interest.
Is the amount of interest calculated from the total bill if you do not pay in full. If you are a thousand dollar bill and on the maturity date to pay a thousand dollars, you will not be charged interest. But, if you only pay the minimum or less than one thousand dollars, your billing next month will be charged interest.
11. Administrative Costs.
Some administrative costs that you must pay, among other stamp fee, late fee charge (arising from not paying on time), Over limit fees (fees charged for transactions exceeded credit limits credit card).
12. Cash Withdrawal Limit.
Is the maximum amount of cash collection using a credit card at ATM machines. You can take cash from an ATM using your credit card, but banks usually give the range of about 70-80 percent of your total credit card limit. If your card limit is five thousand dollars, then the maximum cash you can take is 80 per cent x 5 thousand dollars, which is 4 thousand dollars.
13.Personal Loan.
Is lending money to individuals who are used for what purposes only and without guarantee. Calculation of interest on the loan with flat rate system and the futures of up to 36 months, the product is under the management of consumer finance.( Let's To The Bank )
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