Credit Card terms starting with D

8 terms

1. Daily balance method with compounding According to this method, we calculate the interest charges for each balance by applying the “daily periodic rate” for that balance to the “daily…
2. Daily balance method without compounding According to this method, we calculate the interest charges for each balance by applying the “daily periodic rate” for that balance to the “daily…
3. Daily periodic rate (DPR) DPR stands for “Daily Periodic Rate.” This is a daily interest rate. The daily periodic rate or DPR for a given balance is equal to the APR on that…
4. Debt cancellation coverage Cancels your debt if you become unemployed, disabled, or meet other criteria covered by your contract.
5. Debt suspension coverage Stops your payments during periods of unemployment, disability, or other situations covered by your contract.
6. Default Default occurs when a debtor is unable to meet the legal obligation of debt repayment, one form of which is the failure to promptly pay interest or…
7. Default APR See penalty APR.
8. Due date The due date is the date by which we must receive your payment in order for it to be on time. Your bill lists the due date.