credit cards

What is a freeloader?

 

What is a freeloader?

The Bankrate.com financial term of the day is: "Freeloader."

You may like to keep your credit card paid off so you avoid piling up costly debt, but credit card companies don't really like it and have a word for people like you: freeloader. That's the industry's term for a cardholder who pays off the balance every month and, as a result, pays no interest or fees.

Here's a shocker: Credit card issuers are in the business of making money off their customers and will consider you a freeloader if you're the type of responsible, diligent consumer who dodges interest charges and fees.

To find a credit card that has what you're looking for, visit the credit cards section at Bankrate.com. 

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