Argylls ch. 8 CS
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Credit | An arrangement to receive cash, goods, or services now and pay for them in the future.
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| Consumer Credit | The use of credit for personal needs.
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| APR | Annual Percentage Rate
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| Creditor | an entity that lends money.
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| Closed-end credit | Credit as a one-time loan that you will pay back over a specified period of time in payments of equal amounts.
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| Open-end Credit | Credit as a loan with a certain limit on the amount of money you can borrow for a variety of goods and services.
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| Line of Credit | The maximum amount of money a creditor will allow a credit user to borrow.
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| Grace Period | A time period during which no finance charges will be added to your account.
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| Finance Charge | The total dollar amount you pay to use credit.
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| Net Income | The income you receive.
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| Collateral | A form of security to help guarantee that the creditor will be repaid
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| Simple Interest | The interest computed only on the principal.
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| Minimum Monthly Payment | The smallest amount you can pay and still remain a borrower in good standing.
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| Credit Rating | A measure of a person's ability and willingness to make credit payments on time.
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| ECOA | Equal Credit Opportunity Act
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| FCBA | Fair Credit Billing Act
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| Three things you should do if you feel your identity has been stolen. | Contact the credit bureaus, contact the creditors, file a police report.
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| If you purchase a defective item and the store will not accept a return you should... | tell your credit card company to stop payment because you made a sincere attempt to resolve, or clear up, the problem.
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| To protect your card, you should take the following actions: | Be sure that your card is returned to you after you make a purchase and keep a record of your credit card numbers.
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| Cosigning | The agreement to be responsible for the loan payments if the other person fails to make them.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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