Argylls8EC
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 in the future.
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| Consumer credit | The use of credit for personal needs.
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| Creditor | A lender of money.
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| What can misused credit lead to? | Bankruptcy or loss of creditworthiness.
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| An advantage of credit | Gives time to pay for the good or service.
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| A disadvantage of credit | Temptation to spend too much.
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| Closed-end credit | A one time loan payed over a specified period of time.
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| Open-end credit | A loan within a certain limit you can borrow for purchases.
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| Line of credit | The maximum amount of money a creditor will allow to be borrowed by a credit user.
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| Grace period | A time period with no financial charges added to your account to pay a debt.
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| Finance Charge | The total
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| Debit cards are mostly used at... | Automated Teller Machines (ATM's).
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| Net income | Your take-home pay.
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| Annual Percentage Rate (APR) | The cost of credit on a yearly basis.
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| A variable interest rate is based on... | Changing rates in the banking system.
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| Collateral | Form of security to help guarantee the creditor will be repaid..
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| True or false: a credit card is the same as a debit card | False
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| Simple interest | Interest computed only on the principal.
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| Credit rating | A measure of a person's ability to make credit payments on time.
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| Cosigning | A loan that means you agree to be responsible for the loan payments if the other person fails them.
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Created by:
ELCURTIS
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