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 & repor
| Term | Definition |
|---|---|
| annual fee | fee charged yearly to remain a card holder |
| annual percentage | yearly percentage of interest |
| rate (APR) | The Annual Percentage Rate (APR) is a measure of the interest rate plus the additional fees charged with the loan. |
| balance transfers | moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate |
| bankruptcy | helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts |
| cash advances | being payed in cash early |
| co-signer | A co-signer is a person who agrees to be legally responsible to pay a debt if the borrower does not pay back a loan as agreed. |
| courtesy checks | 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, |
| credit card | a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit |
| credit history | a record of how a person has handled money and debt, including credit card accounts and other loans. |
| credit limit | the maximum amount of money you can charge on a revolving credit account, |
| credit report | a statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts. |
| credit score | a numerical rating representing the perceived ability of a person or organization to fulfill their financial commitments, based on an analysis of their credit history and current financial circumstances |
| debt | something, typically money, that is owed or due. |
| finance | the management of large amounts of money, especially by governments or large companies. |
| grace period | he period between the end of a billing cycle and the date your payment is due. |
| 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 | a lower-than-usual APR that you get for a set period of time when you open an account. |
| late payment fee | a charge that lenders and other companies often impose on consumers when they fail to make an on-time payment on a debt, |
| lender | an organization or person that lends money. |
| line of credit | a flexible loan from a bank or financial institution. |
| over-the-limit fee | An over-limit fee is a penalty charged by credit card companies when cardholders' purchases exceed their credit limit. |
| pre-approved | the act of accepting, allowing, or officially agreeing to something before something else happens, |
| principle | the money you actually get from the lender and need to repay, along with interest and fees, during the loan period |
| secured loan | business or personal loans that require some type of collateral as a condition of borrowing. |
| term | a fixed or limited period for which something last |
Created by:
dylanfranklin101107
Popular Finance sets