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Finance terms, made simple.
8 terms
- Annual fee
- A recurring charge for keeping a credit card account, subject to the issuer’s current terms.
- Billing cycle
- The period covered by one card statement.
- Cashback
- A benefit that returns part of eligible spending, usually with categories, caps, or exclusions.
- InstaPay
- A Philippine electronic fund-transfer service commonly used for near-real-time transfers.
- NAFFL
- No Annual Fee for Life, subject to the exact eligibility and retention conditions in an offer.
- Paluwagan
- A rotating savings arrangement where members contribute on a schedule and take turns receiving the pooled amount.
- PESONet
- A Philippine electronic fund-transfer service commonly used for batch credit transfers.
- Statement balance
- The amount shown as due for the completed billing cycle, before considering later transactions.