Even if you pay your balance on time and use your card responsibly, the one cost you'll always pay is the annual fee. Many credit cards don't charge annual fees. However, this expense can bring greater benefits than other cards offer, such as airport lounge access, bonus cash back, or extra rewards points for travel.
The following are trigger terms: the amount or percentage of any down payment, the payment period, the monthly payment, and the amount of the finance charge.
The triggering terms include charges imposed under a non-home secured credit plan such as finance charges, late fees, over-the-limit fees, returned item fees, fees for obtaining a cash advance, fees to obtain additional or replacement cards, expedited card delivery fees, application and membership fees, annual and ...
The most common trigger event is applying for a mortgage, but there are others. These trigger leads are considered a “prescreened offer” or a “firm offer of credit or insurance”. Trigger leads work similarly to the “pre-approval” letters from personal loan companies or credit card companies.
The golden rule of Credit Cards is simple: pay your full balance on time, every time. This Credit Card payment rule helps you avoid interest charges, late fees, and potential damage to your credit score.
Finance charge amount: Mentioning the finance charge amount includes stating the dollar amount of the finance charge or any portion of it. However, disclosing the APR or stating there is no particular charge for credit (such as no closing costs) is not a triggering term.
A trigger is a stimulus that elicits a reaction. In the context of mental illness, "trigger" is often used to mean something that brings on or worsens symptoms. This often happens to people with a history of trauma or who are recovering from mental illness, self-harm, addiction, and/or eating disorders.
Final answer: A 'triggering term' in advertising refers to specific financial terms which necessitate additional disclosures under specific laws. All examples provided, except 'mortgage is assumable', qualify as 'triggering terms' as they provide specific financial figures requiring further information.
Credit cards with no annual fee offer the flexibility of credit without the cost of a yearly fee. See more. No annual fee credit cards help reduce your cost of credit while offering you a variety of features such as rewards, cash back on every purchase or lower interest rates.
Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.
Payment Trigger means the occurrence of a Change in Control during the term of this Agreement coincident with or followed at any time before the end of the 12th month immediately following the month in which the Change in Control occurred, by the termination of the Executive's employment with the Corporation or a ...
Final answer: The only term that is not a 'trigger term' according to Regulation Z is the APR. Trigger terms in Regulation Z are those that could potentially cause misunderstanding about the cost of credit, including downpayment amount, number of payments or repayment period, and finance charge amount.
Share. Definition: used in advertising, include the following – the amount or percentage of down payment, number of payments, period (term) of repayment, amount of any payment, and the amount of any finance charges.
Meaning of triggering in English
causing a strong emotional reaction of fear or worry because someone is made to remember something bad that has happened in the past: For people with PTSD, loud noises can be triggering. a triggering experience.
The trigger rate is where your mortgage payments no longer cover any principal portion, only the interest, of your mortgage payment. This results in an increasing rate environment where a higher interest rate is required on the variable-rate mortgage without increasing the mortgage payment.
A triggering term is a word or phrase that legally requires one or more disclosures when used in advertising. Triggering terms are defined by the Truth in Lending Act (TILA) and are designed to protect consumers from predatory lending practices.
An annual percentage rate (APR) is the yearly rate charged for a loan or earned by an investment and includes interest and fees. Financial institutions must disclose a financial instrument's APR before any agreement is signed.
According to cardholder reports, Bank of America uses a 2/3/4 rule: You can only be approved for two new cards within a 30-day period, three cards within a 12-month period and four cards within a 24-month period. This rule applies only to Bank of America credit cards, though, and not all credit cards.
50% goes towards necessary expenses. 30% goes towards things you want. 20% goes towards savings or paying off debt.
The Bottom Line: Keep Control of Your Credit & Finances
There's no such thing as a bad number of credit cards to have, but having more cards than you can successfully manage may do more harm than good.