A store, restaurant, or services card that stores a pre-set amount of money to spend.

A FICO credit score between 660 and 719 is classified as "good credit." If you do not know your credit score, you can use our free credit estimator. In addition, you likely have good credit if ALL of the following statements are true:

• You've had a loan, line of credit or credit card for more than 3 years
• You've had a credit card under your own name (not as an authorized user) with a limit above $5,000
• You haven't been more than 30 days late on a loan, credit card or medical bill payment in the last 12 months

If your account is in "Good Standing", you are NOT late on any of your credit card or loan payments. Sometimes you might also hear that "your account is current", which means the same thing as "your account is in good standing".

If you have purchased property or services with a charge or credit card and are unhappy with the quality thereof, and you have tried in good faith to resolve the problem with the merchant, you may have the right not to pay the remaining amount due on that property or service. You must have made the purchase either in your home state or within 100 miles of your current mailing address, and the purchase price must have been above $50.

The number of days from the billing date of your last bill to the due date of your current bill when you can pay your balance in full without accruing finance charges. This period is generally from 20-30 days. Grace period applies only to purchases. Cash Advances and Balance Transfers do not have a grace period and therefore finance charges get assessed on the cash and balance transfer balances immediately.