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Amount Past Due
Any unpaid amount of the minimum payment due from the previous months.
Annual Percentage Rate
The yearly rate of interest charged on:
- Purchases not paid off in full within the interest-free period
- Cash Advances
- Balance Transfer
- Cash on Call transactions
Interest is charged from the day that the transactions were originally made. Generally, Balance Transfer and Cash on Call transactions will attract a promotional interest rate.
Annual Fee
The charge imposed yearly to use your credit card. The fee that you are charged is linked to the number of features and benefits available on your card. Fees change from bank to bank.
Balance
The total amount of money owed on your credit card. It includes any unpaid balance from the previous months, new purchases, cash advances and any fees and charges.
Balance Transfer
Moving the debt or balance from one credit card company to pay another. This is usually done to achieve a lower annual percentage rate.
Barclaycard Reward Points
Reward points accrued on your credit card when you use your card, that can be redeemed for vouchers at affiliated reward partners. From time to time, the bank may hold special reward promotions whereby you can accrue reward points at a faster rate.
Billing Cycle
The total number of days between the last due date and the current due date on a credit card statement.
Billing Date
The date on which your monthly statement is generated. This date remains the same each month.
Cash Advance Fee
A charge for using your credit card to obtain cash. This fee can be stated in terms of a flat per-transaction fee or a percentage of the amount of the cash advance. Cash Advances are not subject to any interest free period.
Cash Limit
The maximum amount of cash that your card allows you to withdraw from an ATM. Should you require more cash than your Cash Limit allows, you may arrange to have funds transferred to a nominated current account (or a cheque provided) by using our Cash on Call facility.
Cash on Call
A facility on your card whereby you can contact the bank and arrange to have money drawn as a cheque or transferred to a nominated savings account. This amount will be subject to a separate interest rate over a specified term. You would generally use Cash on Call for larger withdrawals that exceed both your Cash Limit and ATM withdrawal limit.
Credit Limit
The maximum amount that you are allowed to spend on a credit card. It includes purchases, cash advances, and any finance charges or fees.
Easy Instalment Plan
This facility allows you to pay for a larger item over a longer period of time at a reduced interest rate.
Grace Period
If you pay your balance in full each month, the grace period is the interest-free time the bank allows between the transaction date and the billing date. Transactions made closer to the billing date receive a lesser grace period than those transactions made at the beginning of a billing cycle.
Minimum Payment Due
The minimum amount that must be paid by the due date in order to keep your account up to date. Your minimum payment due is 4% or AED 100 whichever is higher of the statement balance outstanding as at the statement issue date.
Monthly Percentage Rate
Your monthly percentage rate can be calculated by dividing your yearly percentage rate by 12.
Transaction Date
The actual date when something is purchased or the date when cash is withdrawn.
Transaction Fee
A fee charged for certain types of withdrawals such as ATM cash advances and international transactions.
Transaction Post Date
The date that a purchase, cash advance or payment is recorded on your account. This can differ from the transaction date, depending on how long the vendor at which you made the transaction presents the voucher for payment.
Over Limit
When the amount owed is greater than the limit on your credit card. Any combination of purchases, cash advances, fees or finance charges may cause you to exceed your credit limit.
Over Limit Fee
A fee charged for exceeding the credit limit on your card.
Overseas Transaction Fees
Where you use your card outside the UAE, you will be charged a currency conversion fee. This amount varies for US Dollar conversions versus other currency conversions. The exchange rate applied will be the rate relevant to the day your transaction is posted to your account and not the day the transaction was made.
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