Glossary of Credit Card Terms

Below is a list of credit card and credit industry terms which can assist with reading credit card statements as well as the fine print on credit related documents.

Go-To Rate
A go-to rate is an interest rate put on credit cards after the beginning period, sometime known as the teaser period.
Grace Period
A grace period is the time, usually a month or more, before a debtor will have dues be paid with interest. A typical grace period is 31 days. According to Credit CARD Act of 2009, grace periods must be at least 21 days. It usually only applies to new purchases.
Gross Pay
A persons gross pay is the total allowances, commissions, overtime pay, bonuses, etc. before there are any deductions like taxes.
A guarantor is also known as co-signer would be someone who agrees to pay the loan of another person if he or she defaults on the obligation. It often times makes a lender more willing to approve a particular loan for a borrower of high-risk.
Back to Top
Advertiser Disclosure
Trust & Security

Over 1,250,000 cardholders since 2005

As Seen In
  • CNN Money logo
  • The Wall Street Journal logo
  • USA Today logo
  • The New York Times logo
  • PBS logo
  • Forbes logo
  • CBS Marketwatch logo
Credit Card Calculators
PBS logo

Payoff | Balance Transfer