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Investment Term For The Day - Credit Card Balance
Manage episode 338002379 series 2956461
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A credit card balance is the total amount of money currently owed by a cardholder to their credit card company.
Balances change based on when and how they are used—they increase when purchases are made and decrease when cardholders make payments. Any remaining balance at the end of the billing cycle is carried over to the next month’s bill and incurs an interest charge. Credit card balances are important factors in calculating a person’s credit score.
Become a supporter of this podcast: https://www.spreaker.com/podcast/investment-terms--4432332/support.
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Balances change based on when and how they are used—they increase when purchases are made and decrease when cardholders make payments. Any remaining balance at the end of the billing cycle is carried over to the next month’s bill and incurs an interest charge. Credit card balances are important factors in calculating a person’s credit score.
Become a supporter of this podcast: https://www.spreaker.com/podcast/investment-terms--4432332/support.
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