Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
CreditCards & Credit
yes
| Term | Definition |
|---|---|
| Annual | occurring once every year |
| Fee | a payment made to a professional person or to a professional or public body in exchange for advice or services. |
| Annual percentage rate (APR) | Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged |
| Balance | in banking and accounting, the balance is the amount of money owed on an account. |
| Transfers | move from one place to another. |
| Bankruptcy | the state of being bankrupt. |
| Cash advances | A cash advance is a service provided by credit card issuers that allows cardholders to immediately withdraw a sum of cash, often at a high interest rate. |
| Co-signer | A co-signer is a person – such as a parent, close family member or friend – who pledges to pay back the loan if you do not. |
| Courtesy Checks | Convenience checks are blank checks that lenders, usually credit card issuers or home equity line of credit lenders, offer to their customers. |
| Credit bureau | a company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions, etc. |
| Credit card | a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit. |
| Credit history | Credit history refers to the ongoing documentation of an individual's repayment of their debts. |
| Credit limit | credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit. |
| Credit report | A credit report is a detailed breakdown of an individual's credit history prepared by a credit bureau. |
| Credit score | credit score is a number between 300–850 that depicts a consumer's creditworthiness. |
| Debt | something, typically money, that is owed or due. |
| Finance | the management of large amounts of money, especially by governments or large companies. |
| Charge | demand (an amount) as a price from someone for a service rendered or goods supplied. |
| Grace period | A grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken as a result of failing to meet the deadline |
| Interest rate | the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. |
| Introductory rate | Introductory annual percentage rate (APR) is a low rate offered by a credit card company as an incentive to apply for the card. |
| Late payment Fee | A late fee is a charge imposed on a consumer who fails to make the payment on a debt or other financial obligation by the due date. |
| Lender | an organization or person that lends money. |
| Line of credit | an amount of credit extended to a borrower. |
| Over-the-limit fee | An over-limit fee is a penalty charged to credit card customers who breach their credit limits |
| Pre-approved | A pre-approval is a preliminary evaluation of a potential borrower by a lender to determine whether they can be given a pre-qualification offer. |
| Principle | a fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning. |
| Secured Loan | Secured loans are loans that are secured by a specific form of collateral, including physical assets such as property and vehicles or liquid assets |
| Term | a fixed or limited period for which something, e.g., office, imprisonment, or investment, lasts or is intended to last. |
Created by:
jaycebalestrieri
Popular Economics sets