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Credit Cards

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Payment Types   what you actually use to buy something; cash, checks, debit cards, and credit cards  
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Interest   the fee someone pays to be able to borrow money  
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Credit   making purchases now and paying for them later  
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Credit Card   a plastic card used to make purchases now and pay for them later  
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Debtor   anyone who owes money  
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Finance Charge   a fee for borrowing money  
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Late Fees   additional fees that can be added to a credit card bill if the cardholder fails to make at least the minimum payment by the due date  
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Minimum Payment   the smallest required payment that a credit card holder can pay on a monthly bill and still remain in good standing with the lender  
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Principal   the amount of money borrowed  
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Creditor   a lender  
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Created by: tmikels52
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