Wi$eUp Glossary

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Account Theft

Occurs when thieves use stolen personal information to access an individual's existing accounts, such as bank and credit card accounts.

Adjusted Balance Method

A calculation used by the credit card company to determine finance charges. They take the balance at the beginning of the current billing period and subtract any payments and credits received during the current billing period. The resulting total is used to compute any finance charges.

Annual Fee

An amount charged to the credit card holder regardless of whether the card is used. Not all companies charge an annual fee.

Annual Percentage Rate (APR)

This is the fixed or variable interest rate you will be charged if you carry a balance on your credit card.

Assets

Everything that an individual owns, including cash and cash equivalents, invested assets and use assets. Cash and cash equivalents include checking accounts, savings accounts, money market accounts, and the cash value of life insurance. Invested assets include the money invested in stock market, mutual funds, and retirement portfolios that include individual retirement accounts. Use assets include real estate, personal property, automobiles and other things an individual may own.

Automobile Collision Protection

An auto insurance coverage that covers damage to your car from a collision or roll over, regardless of who is at fault.

Automobile Comprehensive Coverage

An auto insurance coverage for damage/loss to your vehicle caused by something other than a collision or roll over. This could include fire, theft, vandalism, windshield cracking or hail damage.

Automobile Liability Coverage

Liability insurance pays for someone else's financial loss when you are held responsible.

Average Daily Balance Method

A calculation used by the credit card company to determine finance charges. The total unpaid balance for each day in a billing period is divided by the number of days in the billing period. The finance charge is figured on this average balance.