Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Credit Card

QuestionAnswer
Annual Fee A yearly, recurring charge applied by credit card issuers for holding a specific, often rewards-heavy or premium, credit card account.
Annual Percentage Rate (APR) Is the total annual cost of borrowing money, expressed as a percentage, which includes both the interest rate and additional fees.
Balance Transfers The process of moving high-interest debt from one or more credit cards to a new card, usually featuring a 0% introductory APR for 6–21 months.
Bankruptcy Is a federal legal process designed to help individuals or businesses eliminate or repay debts they cannot afford through a structured court process.
Cash Advances Is a short-term, high-interest loan that allows you to withdraw cash against your credit card’s credit limit, often via an ATM, bank teller, or convenience check.
Co-signer Someone who legally agrees to be responsible for another person's debt, like a loan or lease, if the primary borrower fails to make payments, acting as a financial guarantor to help the borrower qualify.
Courtesy Checks Is a complimentary, quick, and usually visual inspection of a vehicle's major systems, designed to identify potential safety issues or maintenance needs before they become expensive repairs.
Credit Bureau a company that collects, compiles, and maintains individual consumer borrowing and repayment data to create credit reports.
Credit Card a payment card issued by financial institutions that allows you to borrow funds up to a pre-approved limit to purchase goods, services, or get cash advances.
Credit History the maximum amount of money a lender or credit card issuer allows you to borrow or charge at any given time.
Credit Limit the maximum amount of money a lender or credit card issuer allows you to borrow or charge at any given time.
Credit Report a detailed, 7-10 year record of your financial history, tracking how you manage debt and repay loans.
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 a contractual obligation where a borrower (individual, company, or government) receives funds from a creditor and promises to repay the principal amount plus interest by a specific date.
Finance Charge the total cost of borrowing money or using credit, expressed as a dollar amount.
Grace Period a set timeframe after a payment due date—typically 15 to 30 days—during which a borrower can make a payment without incurring late fees, penalties, or interest charges.
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 temporary, lower-than-normal interest rate offered by lenders to new customers for a set period.
Late Payment Fee a financial penalty charged by creditors, lenders, or service providers when a borrower fails to make at least the minimum payment by the established due date.
Lender an organization or person that lends money.
Line of Credit a flexible, revolving loan facility from a bank or financial institution that allows you to borrow up to a specific limit, repay it, and borrow again.
Over-The-Limit Fee a charge applied by credit card issuers when your balance exceeds your assigned credit limit, but only if you have opted in to allow such transactions.
Pre-Approved a lender has preliminarily reviewed your credit report and financial profile to determine you likely qualify for a loan or credit card, often based on a "soft" credit pull that doesn't impact your score
Principle the original sum of money borrowed in a loan or invested in an asset, excluding any interest, fees, or earnings.
Secured Loan a type of credit backed by collateral—such as a home, car, or savings account—which reduces risk for lenders.
Term the specific, scheduled duration of a loan, investment, or contract, defining the time period over which repayment occurs or an asset matures.
Created by: Aconti28
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards