IOU that is the abbreviation of I owe you, is actually an informal document for the acknowledgment of debts. It is normally written in the event when you are going to lend some amount of money to anyone that could be your relative, friend or anyone. You write this informal document to keep it as a proof of loan agreement and when you to get that lending amount back from the borrower by a specific time.

Steps to Write an IOU Document

If you want to write an IOU and don’t know how to write it then follow the steps given below.

Specify what is being borrowed?

First of all, while writing an IOU document you should clearly highlight the object which you are lending and if it is a particular amount of money then also specify the exact amount which you have lent.

Specify the Repayment Deadline

You should specify the deadline of the loan repayment in that IOU document.

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By law, credit card companies are obligated to disclose their fee schedules to consumers. The trouble is that the calculations of these fees and finance charges are often mentioned in the fine print of the account disclosure statement that you receive when you first open your credit card account. In this case, you can suffer from what you don’t know really.

In this article I have mentioned 6 things you might don’t know about credit cards:

1. Every Card doesn’t have a grace period.

Mostly 20-30 days “grace period” is offered by the credit cards during which time you could pay your entire balance and do not incur any interest or finance fees. Nowadays it’s becoming more common for credit cards having a shorter grace period, or none at all.

2. A 0% balance transfer comes with transfer fees.

A 0% interest rate on balances transferred is offered by several cards for a specific length of time, but what might not be evident in the offer is the 3-5% balance transfer fee.

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