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finances
| Term | Definition |
|---|---|
| APR | Describes the cost of credit on an annual basis. |
| debit card | Used for transaction that is deducted electronically. |
| buyer beware | Serve as a warning to consumers to make careful purchasing. |
| unsecured | Nothing of value the creditor can take if the loan is not repaid. |
| lending act | Federal law that protects cardholders against unauthorized used of their credit cards. |
| ATM card | Used to access a computer to get cash. |
| car loan | Secured loan by the car. |
| credit | Ability to obtain goods or services before payment. |
| credit card | Is an unsecured loan. |
| Intrest | Price of using someone else's money. |
| credit card | Agreement between a lender and card holder. |
| collateral | Property required by a lender and offered by a borrower. |
| incentives | Perceived benefits that encourage certain behaviors. |
| unsecured | Loan not backed by collateral. |
| checking account | Account held at a bank or credit union which owner deposits funds. |
| overdrafts | Account holder does not have enough money to cover transactions. |
| check | Printed form directing a bank to withdraw money from an account to pay another account. |
| debit card | Transaction card that replaces cash and check, "pay now". |
| opportunity cost | Highest valued alternative given up when a choice is made. |
| secured loan | Loan that is backed with collateral. |