Glossary of debt and savings terms
By Bankrate.com

Loan and credit card contracts can be fraught with confusing terms and jargon. Get debt under control and beef up savings with this list of terms to know.

Glossary of debt and savings terms

1. Annual fee 26. Mutual fund 2. Annual percentage rate, or APR 27. Non-dischargeable debts 3. Annual percentage yield, or APY 28. Over-the-limit fee 4. Assets 29. Parking 5. Average daily balance 30. Payment due date 6. Balance transfer 31. Periodic rate 7. Brokerage account 32. Personal loan 8. Cash-advance fee 33. Pre-approved 9. Compound interest 34. Previous balance 10. Consumer Credit Protection Act 35. Purchases/new charges 11. Credit limit 36. Recession 12. Debt-to-income ratio 37. Roth IRA 13. Fair Credit Billing Act 38. Savings accounts 14. Fair Credit Reporting Act 39. Secured card 15. Fair Debt Collection Practices Act 40. Secured debt 16. Finance charge 41. SEP IRA 17. Grace period 42. Tax-free money market mutual fund 18. Gross income 43. TIPS 19. Household income 44. Traditional IRA 20. Individual Retirement Account 45. Treasury bill or Treasury note 21. Introductory rate 46. Two-cycle billing 22. Late fee 47. Universal default 23. Minimum payment 48. Unsecured debt 24. Money market account, or MMA 49. Variable interest rate 25. Money market mutual fund

1. Annual fee -- A bank charge imposed each year for use of a credit card. It may also be called a membership or participation fee. It can range from $15 to $300, and usually gets billed directly to the customer's monthly statement. Many credit cards have no annual fee.