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Applying for Credit
BTC 26.1
Question | Answer |
---|---|
Determines the cost of credit on a yearly basis. | Annual Percentage Rate |
A loan given in cash by a credit card company in anticipation of the borrower being able to repay it. | Cash Advance |
Someone who agrees to be responsible for a debt if the main applicant does not repay it. | Cosigner |
An amount of time allowed to repay a debt without having to pay interest charges. | Grace Period |
The maximum amount that a credit card holder can charge on a credit card. | Credit Limit |
Come into forcible contact with another object. | Impact |
The action of anticipating something; expectation or prediction. | Anticipation |
Accept or yield to a superior force or to the authority or will of another person. | Submit |
The least or smallest amount or quantity possible, attainable, or required. | Minimum |
The applicant's ability to repay the loan. | Capacity |
Shows whether a person has proven to be trustworthy in repaying debts. | Character |
The amount of money that the applicant has beyond their debts. | Capital |