Final answer:
A cash advance fee is the fee you pay for a cash advance. The payment you make minus the balance you owe is called the credit card payment. The yearly cost of credit is known as the annual fee.
Step-by-step explanation:
The fee you pay for a cash advance is called a cash advance fee. It is an additional charge imposed by credit card issuers when you withdraw cash from your credit card.
The payment you make minus the balance you owe is called the credit card payment. It is the amount you repay each billing period.
The yearly cost of credit is known as the annual fee. It is a fee that is charged annually by credit card companies for the privilege of using a particular credit card.
The money you owe from the last billing period is referred to as the outstanding balance. It is the amount of money you still owe on your credit card after making payments.
Carrying a higher annual fee than a normal credit card is an exclusive credit card. These cards generally offer additional benefits and rewards but come with a higher annual fee.
Avoiding extra charges by paying your bill on time is called avoiding late payment fees. Late payment fees are charges imposed when you fail to make your credit card payment by the due date.
People who borrow money are controlled by those who lend it is an example of credit card dependence. It refers to the power imbalance between borrowers and lenders in the credit card industry.