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All terms starting with "G"
Insurance that covers the difference between the a … moreInsurance that covers the difference between the actual cash value of a vehicle and the amount owed on an auto loan or lease.
If a car owner is "upside down" on the vehicle's financing, gap insurance provides additional coverage so that the car loan can be paid off if the car is declared a total loss after an accident.
Learn more about gap insurance.
If a car owner is "upside down" on the vehicle's financing, gap insurance provides additional coverage so that the car loan can be paid off if the car is declared a total loss after an accident.
Learn more about gap insurance.
A creditor's claim that lacks both a payment prior … moreA creditor's claim that lacks both a payment priority and security/collateral. These claims are only paid if there are funds remaining in the estate after the secured claims are paid, and unsecured claims are paid in proportion to the claim's size as it stands among the total number of unsecured claims in the case.
A store, restaurant, or services card that stores … moreA store, restaurant, or services card that stores a pre-set amount of money to spend.
A credit credit score between 660 and 719 is class … moreA credit 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 … moreIf 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".
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 … moreIf 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 time during which you can pay your monthly cre … moreThe time during which you can pay your monthly credit card bill before interest begins to accrue. The Grace Period generally lasts for 20-30 days after your bill is assessed. Not all credit cards offer a Grace Period, and none do when you are revolving a balance, in which case purchases begin to incur interest immediately.
Be wary of credit cards that do not have a grace period (i.e. 0 days) because even if you pay your bill in full every month, you will accrue interest charges every day that you have a balance on the card.
Only purchases have a grace period. Cash Advances and Balance Transfers do not have a grace period and interest charges therefore get assessed immediately.
Be wary of credit cards that do not have a grace period (i.e. 0 days) because even if you pay your bill in full every month, you will accrue interest charges every day that you have a balance on the card.
Only purchases have a grace period. Cash Advances and Balance Transfers do not have a grace period and interest charges therefore get assessed immediately.