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Gov

QuestionAnswer
Credit a loan of money that's given to a borrower for a specified amount and a specified period of time
Debit card a plastic card issued by a bank allowing the holder to transfer money electronically from your checking account
Credit card a plastic card with an assigned account number, which enables the holder to purchase goods or services using a banks money
Credit risk the risk that a borrower may not repay a loan on time, or at all
Interest rate the cost of using the money provided by a loan, credit card expressed as a percentage
APR Annual Percentage Rate
Prime rate the lowest rate of interest at which money may be borrowed
Revolving credit credit that's automatically renewed as debts are paid off
Credit limit max amount of money a credit card holder is allowed to borrow
Credit score represents the credit "worthiness" of an individual to help qualify that person for a loan
Created by: epfaff
 

 



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