We all use credit cards and unfortunately not so well. This leads to debt and unnessary pain. Ignorance is not pardonable by law and ignorance of credit cards and its functioning is also not pardonable. Do read this primer and get yourself more acclimatized with the various terms used in credit cards.
An excellent article published in Rediff.com on credit card jargon.
For e.g. I never knew the below fact.
"Minimum payment: Cards allow you to repay amounts as low as 5 per cent of your outstanding. However, remember that the unpaid amount not only attracts heavy interest (around 36 per cent per annum) but the rate of interest rises further (to over 42 per cent) depending on your payment patterns.
Moreover, once the rolling over begins, your free credit period ceases. In other words, all fresh purchases made by you even in the next billing cycle, will be treated as unpaid amounts from day one and will attract interest."