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Argylls

QuestionAnswer
Credit An arrangement to receive cash, goods, or services now and pay for them in the future.
Creditor An entity that lends money.
Line of Credit The maximum amount of money a creditor will allow a credit user to borrow .
Consumer Credit The use of credit for personal needs.
Closed-end Credit Credit as a one-time loan that you will pay back over a specified period of time in payments of equal amounts.
Grace Period A time period during which no finance charges will be added to your account.
Financial Charge The total dollar amount you pay to use credit.
Collateral A form of security to help guarantee that the creditor will be repaid.
Net Come The income you receive.
Annual Percentage Rate The cost of credit on a yearly basis, expressed as a percentage.
Created by: Bailey_ann.marie
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