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Created with Fabric.js 1.4.5 Credit Cards? Credit Scores A credit score helps lenders evaluate your credit reportbecause it is a number thatsummarizes your credit risk,based on a snapshotof your credit reportat a particular point in time. An over-limit fee isa fee charged whenyour balance goes overyour credit limit. In recent years, many card issuers changed their policiesand automatically enrolled consumers in programs that allowedthe transaction, but then added hefty fees. The Credit CARD Act of 2009 ended the practice of automaticallyenrolling consumers into over-limit fees, and requires that credit card issuers give account holders the option to opt-in to over-limit fees. Over the Limit-Fee: a company that collectsinformation from varioussources and provides consumer credit information on individual consumers for a variety of uses Credit Bureaus: Many credit card issuers, particularly those in the United Kingdom and United States, run programs to encourage use of the card where the card holder is given points, air miles or a monetary amount. This last benefit, a monetary amount, is usually known as cashback or a cash back reward. Incentives: The average American household withat least one credit card has nearly $15,950 in credit-card debt (in 2012), according to $1,098 per card that doesn't carry a balance$1,648 per account, U.S. adults with a credit report and Social Security number$3,600 per person, U.S. resident adults$5,234 per person, excluding unused cards and store cards$5,596 per U.S. adult with a credit card$5,700 per household with credit card debt$7,743 per card that usually carries a balance Average DebtOr Payment: An introductory APRrate is a rate givenby credit card issuersto new customers for a specified period.This rate is low or often 0% and appliesto any combination of purchases, balance transfers, and cash advances,as detailed by the issuer. APR and Introductory Rates:
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