Argylls8cc Word Scramble
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Term | Definition |
Credit | An arrangement to receive cash goods or services now and pay for them in the future. |
Consumer credit | The use of credit for personal needs. |
Creditor | An entity that lends money.. |
Closed end credit | A one time loan you will pay back over a certain amount of time using the same amount of money each time as a payment. |
Open end credit | A loan with a certain limit on the amount of money you can borrow for a variety of goods and services. |
Line of credit | The maximum amount of money a creditor will allow a credit user to borrow. |
Grace period | A time period where no finance charges will be added to your account. |
Finance charge | The total dollar amount you pay to use credit. |
Net income | The income you receive. |
Annual percentage rate. Apr | The cost of credit on a yearly basis. |
Collateral | A form of security to help guarantee that the creditor will be repaid. |
Simple interest | The interest only computed on the principal, the amount you borrow. |
Minimum monthly payment | The smallest amount you can pay and remain in good standing. |
Credit rating | The measure of someone's ability and willingness to pay on time. |
Cosigning | An agreement that if the person fails to make a payment on the loan that you will be responsible for it. |
Bankruptcy | A legal process where some or all of the assets are distributed among the creditors because the person is unable to pay the bills. |
Finance | Give or get money for. |
Title | A document showing ownership. |
Portion | Part of the total cost of the item. |
Pledged | What you promised as collateral. |
Created by:
Cjcoppes
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