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Glossary

 
Annual percentage rate (APR)
The annual percentage rate (APR) is the interest rate charged on credit card balances expressed in a standardized, annualized way. This rate is applied each month that an outstanding balance is present.

ATM (Automated Teller Machine)
An ATM, or automated teller machine, is an interactive terminal with a touch screen or keypad that allows consumers with credit cards or debit cards to withdraw cash, check balances and/or make deposits using the magnetically encoded card to perform transactions. Most ATMs are interconnected via networks, allowing consumers to conduct banking or credit card business anywhere in the world.

Card issuer
Any financial institution, bank, credit union or company that issues (or causes to be issued) plastic cards to cardholders.

Secured credit cards
Secured credit cards are those that require collateral (property, such as a house, car or deposit of money) for approval. Generally, secured credit cards are designed for people with no credit or poor credit who are trying to build or rebuild their credit history.

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