Money Glossary - I

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• Interest free period
• International rates

Normally offered to new credit card customers as an incentive to apply for a card, this gives you interest-free spending for a set period, usually 3, 6 or 9 months. Check the small print: if your interest free period only applies to balance transfers, you’ll still be charged interest on your purchases. This is fine if you want to move your debt and pay it off, but some cards have a minimum spending requirement.
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International rates

If you want to use your credit card internationally, you might have to pay a ‘foreign usage loading’ charge of 2.75%. Check with your card issuer if you’re concerned about this, as not all banks impose this fee.
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