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Unit 9 Chapter 25

25.1 - 25.2 Amber Brasket Credit

Credit An agreement to get money, goods, or services now in exchange for a promise to pay in the future
Creditor Person or organization that lends money or provides credit
Debtor Person who borrows money or uses credit
interest A fee charged for the use of money
consumer credit Credit used by people for personal reasons
commercial credit Credit used by businesses`
credit rating A measure of a persons ability and willingness to pay debts on time
charge account Credit provided by a store or company for comsumers to buy its products
installment loans Loans repaid in regular payments over a period of time
collateral Property or goods pledged by a borrower to use as security against a loan if the loan is not repaid
Military* of or relating to soldiers, arms, or war
Contributes* to play a significant part in bringing about an end or result
Costantly* Continually occuring or recurring
Committed* To pledge or assign
Available* Present or ready for immediate use
Annual* Occurring or happening every year or once a year
Range A series of things in a line
Credit limit the point where you cannot charge any more
Pawnshop based on the value of something you own that is left with a pawnbroker as security against money borrowed
Payday advance services Offer short term loans until payday
Created by: Amber_Brasket