Credit Card Glossary

Every credit-card term, explained in plain English.

A

APR (Annual Percentage Rate)

The yearly cost of borrowing on your credit card, shown as a percentage. It's what you pay when you don't clear your full bill by the due date.

C

Credit Utilisation Ratio

The percentage of your total credit limit that you're currently using. Keeping it low — ideally under 30% — is one of the biggest factors in a healthy credit score.

Know your rights

Banks cannot send you a credit card you didn't apply for. If they do and bill you, they must reverse the charge AND pay you twice that amount as penalty, automatically, no questions asked.