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
Credit Cards
| Term | Definition |
|---|---|
| Annual Fee | A yearly fee that may be charged by credit card issuers |
| Annual Percentage | The annual rate that is charged for borrowing that is expressed by a single percentage |
| Rate (APR) | The annual rate that is charged for borrowing |
| Balance Transfers | Where part or all of a debit balance you owe to another lender is transferred from one credit card to another |
| Bankrupcy | A legal proceeding initiated by an individual or company that is unable to pay its debts |
| Cash Advances | A service provided by most credit card and charge card issuers |
| Co-Signer | The act of signing for another person's deb which involves a legal obligation made by the cosigner |
| Courtesy Checks | |
| Credit Bureau | A company that collects information relating to the credit ratings of individuals and make sit available to credit |
| Credit Card | A small plastic card issued by a bank, business, etc... allowing the holder to purchase goods |
| Credit History | A record of a borrower's responsible repayment of debts. |
| Credit Limit | The maximum amount a credit card company will allow someone to borrow |
| Credit Report | A detailed report of an individual's credit history |
| Credit Score | A number assigned to a person that indicates to lenders |
| Debt | Money that is owed or due |
| Finance Charge | Any fee representing the cost of credit, or the cost of borrowing |
| Grace Period | Allotted amount of time during which you are not expected to make payments on your student loans |
| Interest Rate | The proportion of a loan that is charged as interest to the borrower |
| Introductory Rate | An interest rate charged to a customer during the initial stages of a loan |
| Late Payment Fee | Charged to a borrower who misses paying at their least minimum payment |
| Lender | An organization or person that lends money |
| Line of credit | An amount of credit extended to a borrower |
| Over-the-limit fee | A fee charged by a credit card company if a credit card exceeds its limit |
| Pre-Approved | An evaluation of a potential borrower by a lender |
| Principle | The amount borrowed or the amount still owed |
| Secured Loan | A loan in which the borrower pledges some asset |
| Term | A fixed or limited period for which something lasts or intended to last |
Created by:
droehner19
Popular Finance sets