| Question | Answer |
| amount of time allowed to repay a debt without having to pay interest charges. | Grace Period |
| a portion of the total cost that is paid when a product or service is purchased. | Down Payment |
| total amount it costs the borrower with the APR and all the finance charges of the loan. | Finance charge |
| the amount of borrowed money that is still owed and on which interest is based. | Principal |
| Keep in an existing state | Maintain |
| applicants ability to repay the loan | Capacity |
| Not backed by collateral | Unsecured Loan |
| Backed by collateral | Secured Loan |
| a loan agreement secured by property | Mortgage |
| A significant or major affect. | Impact |
| Gain or attain, usually by planned action or effort. | Obtain |
| interest based on the original principle alone. | Simple Interest Loan |
| Having characteristics in common. | Similar |
| Present or propose to another for review, consideration, or decision | Submit |
| Court order to take all or part of a debtor's paycheck if he or she stops making payments. | Garnishment of Wages |
| The least quantity assignable, admissible, or possible. | Minimum |
| If you stop making payments the creditor has legal rights to take it back. | Repossess |
| A part or share of something | Portion |
| someone who agrees to be responsible for a debt if the main applicant does not repay it. | Cosigner |
| the interest rate always remains the same | Fixed Rate |
| maximum amount a card holder can charge on a credit card. | Credit Limit |
| A loan given in cash by a credit card company | Cash Advantage |
| an interest rate that fluctuates or changes over the life of the loan. | Variable Rate |
| amount of money the applicant has beyond his or her debts. | Capital |
| Determines the cost of credit on a yearly basis | Annual Percentage Rate |
| money lent by one party to another at interest | Loan |
| Whether he or she has proven to be trustworthy in repaying debts. | Character |
| The act of looking forward | Anticipation |
