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. 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Tara Baukus Mello

Wells Fargo to pay $4.1M for repo of service members’ cars

The banking behemoth agrees to settle after a federal investigation found it had a pattern of illegally repossessing service members' vehicles.  ... Read more


Connect with us