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
CreditCard n Reports
| Term | Definition |
|---|---|
| annual fee | annual fee is the fee that is charged by some credit card companies to their credit card holders, simply for having the credit card. |
| annual percentage | is the annual rate charged for borrowing or earned through an investment |
| Rate (APR) | the annual rate charged for borrowing or earned through an investment. |
| balance transfers | s the transfer of the balance in an account to another account |
| bankruptcy | the state of being bankrupt. |
| Cash advances | You pay a fee to borrow the money, even if it is for a week or two |
| Co-signer | is a person who is obligated to pay back the loan just as you |
| Courtesy Checks | are checks linked to your credit line that can be used just like checks linked to your checking account |
| Credit bureau | a company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions |
| 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 is a record of a borrower's responsible repayment of debts |
| 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 | is a record of the borrower's credit history from a number of sources |
| credit score | are decision-making tools that lenders use to help them anticipate how likely you are to repay your loan on time. |
| debt | something, typically money, that is owed or due. |
| finance charge | is any fee representing the cost of credit, or the cost of borrowing |
| grace period | is a period immediately after the deadline for an obligation during which a late fee |
| interest rate | is the amount of interest due per period, as a proportion of the amount lent |
| introductory rate | (also known as a teaser rate) is an interest rate charged to a customer during the initial stages of a loan. |
| late payment fee | (a late charge) is charged to a borrower who misses paying at least their minimum payment by the payment deadline |
| lender | an organization or person that lends money. |
| line of credit | an amount of credit extended to a borrower. |
| over-the-limit fee | are typically $25 for the first over-limit charge and $35 if you go over the limit a second time within the next six months |
| pre-approved | is the pre-qualification for a loan or mortgage of a certain value range |
| principle | literally means buy now, pay later |
| secured loan | is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. |
| term | is the agreement between a seller and buyer that lists the timing and amount of payments the buyer will make in the future. |
Created by:
zbarlettedye20
Popular Finance sets