APR
Also known as the Annual Percentage Rate - or APR for short. If you charge something to your credit card and don't pay off the full balance before the next billing cycle, you'll be charged interest.
Fees
Some credit cards charge you additional fees. For example, some cards charge an annual fee. This is like a membership fee that you pay once a year for as long as you have the card.
Rewards
Credit cards that offer rewards give you cash or points for purchases you make. These rewards can be used for things like airline miles or discounts at participating business, and are offered as a way to get people to sign up for and use a credit card frequently.
Finance Charges and Late Fees
If you're late in making your monthly payment, you may be charged a late fee. Finance charges can happen when you transfer your balance to a different credit card.
Credit Limit
A credit limit is the amount of money that you can charge to a credit card. If you exceed this limit, your purchase may not go through and you could be penalized.
Balance Transfer
A balance transfer is when you move an existing balance to another credit card or account. Some people do this to save money by moving their debt to a card that has a lower interest rate. However, it pays to read the fine print as there may be a fee to make a balance transfer.