A finance charge is the total cost of credit including interest and other fees that a credit company may charge if you carry a balance on your credit card. It is dangerous to only pay the minimum amount each month because you will accumulate interest and have a bad credit report over time. The major credit card companies are MasterCard, Visa, American Express, and Discover. A credit rating refers to a person's history of paying bills on time, with 800 being a good rating and 300 being a bad rating.

1. Credit Cards By: Krishna Polasani

2. What is a Finance Charge? A finance charge is a total dollar cost of credit including interest and all other charges. A credit company might give a a finance charge if you have a debt in your credit card.

3. What Interest Rate do Credit Card Companies often charge? Why is it dangerous to pay the min amount each month? Principal Interest rate Time It is dangerous because you will have a bad credit report.

4. Four common Credit Cards Companies MasterCard Visa American Express Discover

5. Credit rating A person’s reputations or paying bills on time is known as credit rating. 800 is a good credit rating 300 is a bad credit rating You can check your credit on the internet at freecreditreport.com

6. Good Things about Credit A person’s reputations or paying bills on time is known as credit rating. 800 is a good credit rating 300 is a bad credit rating You can check your credit on the internet at freecreditreport.com

7. Benefits of Credits Convenience Immediate Possession Savings Credit Rating Useful Emergencies

8. Concerns about credits Overpaying Too small Bad Credit Report Can lose a credit card

9. Formula for Calculating Interest

10. What is a Credit Application? When do you often fill one out? A credit application is a form on which you provide information needed by a lender to make a decision about granting credit. You write and credit application when you have to.

11. Truth in Lending Law The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to protect consumers in credit transactions, by requiring clear disclosure of key terms of the lending arrangement and all costs. requirements contained in Regulation Z, as well as the statute itself.

12. Fair Credit Billing Act The Fair Credit Billing Act (FCBA) is a United States federal law enacted as an amendment to the Truth in Lending Act. Its purpose is to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open end" credit accounts, such as credit card or charge card accounts.