Help
Options
Term
Annual Fee
click to flip
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't know
Term
Annual Percentage Rate (APR)
Remaining cards (24)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
budget and Banking
| Term | Definition |
|---|---|
| Annual Fee | a yearly fee that you pay for the ability to use that card |
| Annual Percentage Rate (APR) | a charge or any fee associated with a transaction |
| Balance Transfers | a transfer of amount of money from one credit card to another credit card |
| Bankruptcy | completely no money in your account |
| Cash Advances | service provided by most credit card and charge card issuers, allows cardholders to withdraw cash |
| Co-Signer | to make payment on the other person's debt should that person default |
| Courtesy Checks | credit card account that can be used for purchases or cash advances, as long as the credit limit on the card is not exceeded |
| Credit Bureau | company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions, etc. |
| Credit Card | a small plastic card issued by a bank, business; allowing the holder to purchase goods or services on credit |
| Credit History | a record of a consumers ability to repay debts and demonstrated responsibility in repaying debts |
| Credit Limit | the maximum amount a credit card company will allow someone to borrow on a single card |
| Credit Report | a detailed report of an individuals credit history |
| Credit Score | a number assigned to a person that indicates to lenders their capacity to repay a loan |
| Debt | money that is owed or due |
| Finance Charge | fee representing the cost of credit, or the cost of borrowing |
| Grace Period | allows payment to be received for a certain period of time after the actual due date |
| Interest Rate | the proportion of a loan that is charged as interest to the borrower |
| Introductory Rate | is an interest rate charged to a customer during the initial stages of a loan |
| Late Payment Fee | the borrower gets charged for missing payment, at least their minimum |
| Lender | a person that lends money |
| Line of Credit | an amount of credit extended to a borrower |
| Over-the-limit Fee | charged by a lender if the outstanding balance on a credit card exceeds the credit limit. |
| Pre-approved | after the evaluation of a potential borrower, the borrower qualifies for a loan from the lender |
| Principle | an amount of money that is lent, borrowed, or invested, apart from any additional money such as interest |
| term | specify the period allowed to a buyer to pay off the amount due |
Created by:
ksno
Popular Finance sets