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Credit Card Interest
Credit card interest is a way in which credit card issuers generate revenue. A card issuer is a bank or credit union that gives a consumer (the cardholder) a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously. The bank pays the payee and then charges the cardholder interest over the time the money remains borrowed. Banks suffer losses when cardholders do not pay back the borrowed money as agreed. As a result, optimal calculation of interest based on any information they have about the cardholder's credit risk is key to a card issuer's profitability. Before determining what interest rate to offer, banks typically check national, and international (if applicable), credit bureau reports to identify the borrowing history of the card holder applicant with other banks and conduct detailed interviews and documentation of the applicant's finances. Interest rates Interest rates vary widely. Some credit card loans ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rate Tart
Credit card interest is a way in which credit card issuers generate revenue. A card issuer is a bank or credit union that gives a consumer (the cardholder) a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously. The bank pays the payee and then charges the cardholder interest over the time the money remains borrowed. Banks suffer losses when cardholders do not pay back the borrowed money as agreed. As a result, optimal calculation of interest based on any information they have about the cardholder's credit risk is key to a card issuer's profitability. Before determining what interest rate to offer, banks typically check national, and international (if applicable), credit bureau reports to identify the borrowing history of the card holder applicant with other banks and conduct detailed interviews and documentation of the applicant's finances. Interest rates Interest rates vary widely. Some credit card loans ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Float (money Supply)
In economics, float is duplicate money present in the banking system during the time between a deposit being made in the recipient's account and the money being deducted from the sender's account. It can be used as investable asset, but makes up the smallest part of the money supply. Float affects the amount of currency available to trade and countries can manipulate the worth of their currency by restricting or expanding the amount of float available to trade. Definition "Float is money in the banking system that is counted twice, for a brief time, because of delays in processing checks or any transfer of cash", as defined by the Federal Reserve Banks of United States. It is most obvious in the time delay between a cheque being written and the funds to cover that cheque being deducted from the payer's account. Once the payee or recipient of a cheque deposits it in a bank account, the bank provisionally credits the account and thus increases the payee's account in demand depos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wall Street Journal Prime Rate
The U.S. prime rate is in principle the interest rate at which a supermajority (3/4ths) of American banking institutions grant loans to their most creditworthy corporate clients. As such, it serves as the floor for private-sector lending, and is the baseline from which common "consumer" interest rates are set (e.g. credit card rates). Traditionally, the rate is set to approximately 300 basis points (or 3 percentage points) over the federal funds rate. The Federal Open Market Committee (FOMC) meets eight times per year wherein they set a target for the federal funds rate. In the United States, the prime rate is traditionally established by the ''Wall Street Journal''. Every major bank sets its own prime rate. When 23 out of the 30 largest US banks change their prime rate, the ''Journal'' publishes a new prime rate. Uses The prime rate is used often as an index in calculating rate changes to adjustable rate mortgages (ARM) and other variable rate short term loans. It is us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Casino Token
Casino chips (also known as poker chips, gaming tokens, or checks/cheques) are small discs used as currency in casinos. Larger, rectangular gaming plaques may be used for high-stakes games. Poker chips are also widely used as play money in casual or tournament games, are of numismatics, numismatic value to casino chip collecting, casino chip collectors, or may be kept as souvenirs. Chips and plaques used in Casino game#Table games, table games may be made of a mixture of metal, clay, ceramic, and plastic materials inlayed or painted with colors and numbers indicating various denominations, while metal token coins are used primarily in slot machines. Some casinos embed radio-frequency identification, RFID tags into chips to collect data and fight counterfeiting, and plaques may have printed serial numbers. Use Money is exchanged for tokens in a casino at the casino cage, at the gaming tables, or at a cashier station. The tokens are interchangeable with money at the casino. As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
Arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more marketsstriking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge. When used by academics in economics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunity Cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the ''benefit'' that would have been had if the second best available choice had been taken instead. The '' New Oxford American Dictionary'' defines it as "the loss of potential gain from other alternatives when one alternative is chosen". As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure, or any other benefit that provides utility should also be considered an opportunity cost. Types Expl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Universal Default
Universal is the adjective for universe. Universal may also refer to: Companies * NBCUniversal, a media and entertainment company that is a subsidiary of Comcast ** Universal Animation Studios, an American Animation studio, and a subsidiary of NBCUniversal ** Universal TV, a television channel owned by NBCUniversal ** Universal Kids, an American current television channel, formerly known as Sprout, owned by NBCUniversal ** Universal Pictures, an American film studio, and a subsidiary of NBCUniversal ** Universal Television, a television division owned by NBCUniversal Content Studios ** Universal Destinations & Experiences, the theme park unit of NBCUniversal * Universal Airlines (other) * Universal Avionics, a manufacturer of flight control components * Universal Corporation, an American tobacco company * Universal Display Corporation, a manufacturer of displays * Universal Edition, a classical music publishing firm, founded in Vienna in 1901 * Universal Entertainme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, '' The Theory of Monopolistic Competition''. Rationale Firms have different resource endowments that enable them to construct specific competitive advantages over competitors. Resource endowments allow firms to be different, which reduces competition and makes it possible to reach new segments of the market. Thus, differentiation is the process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. Although research in a niche market may result in changing a product in order to improve differentiation, the changes themselves are not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schumer Box
The Schumer box is a summary of the costs of a credit card in the United States. It is named after Chuck Schumer, then New York congressman (United States senator since 1999) who was responsible for the legislation requiring that terms of credit cards be clearly outlined in any promotional material. The law was enacted in 1988 and took effect in 1989 in the United States."Final Rule: Truth in Lending; Credit and Charge Card Disclosures (12 CFR Part 226)". Docket No. R-0654, Board of Governors of the Federal Reserve System, April 6, 1989, p. 1. Similar legislation was enacted in the United Kingdom and took effect in March 2004. Credit card companies are required to list long-term rates in at least 18-point type and other key disclosures in 12-point type. The Schumer box includes: *Annual fee if applicable *Annual percentage rate for purchases (APR) *Other APRs (balance transfer, cash advances, default APRs) *Grace period A grace period is a period immediately after the deadline f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
