Category 1
Category 2
Category 3
Category 4
Category 5
100
The ability to borrow money in return for a promise of future repayment.
What is credit.
100
The reliability to repay a loan.
What is creditworthiness.
100
The value of what you own, including savings, investments, and property.
What is capital.
100
This type of account requires full repayment at the end of the month.
What is regular charge account.
100
The finance charge calculated as a percentage of the amount borrowed.
What is APR.
200
If you borrow $100 and you had to pay $15 extra this is because of what negative aspect of credit.
What is interest.
200
This is an indicator of your sense of financial responsibility.
What is character.
200
This bureau keeps a record of your credit history.
What is credit bureau.
200
This type of account allows one to carry over their balance to the following month.
What is revolving charge accounts.
200
This is what APR stands for.
What is annual percentage rate.
300
The difference between the amount owed on a home and the home's value.
What is equity.
300
This is a record of an individuals creditworthiness.
What is credit history.
300
This type of loan is backed by something of value.
What is secured loan.
300
This period of time is a free period between the billing date and the payment due date when no interest is charged.
What is grace period.
300
This act helps consumers correct credit card billing mistakes.
What is The Fair Credit Billing Act.
400
A general rule of credit is you should only use it if you really _____ it.
What is need.
400
This is something that you may ask your parents for to help you get a loan.
What is to cosign a loan.
400
The property that one intends to back a loan.
What is collateral.
400
A limit on your credit card account.
What is credit limit.
400
This is the ability to understand when you cannot take out any more credit.
What is debt capacity.
500
This large aspect of a students life is often purchased on credit.
What is college education.
500
Your financial ability to repay a loan.
What is capacity.
500
This type of loan is paid in increments over an extended period of time.
What is installment loan.
500
The total cost a borrower must pay for a loan, including all interest and fees.
What is finance charge.
500
This was the year that the Fair Debt Collections Practices Act was passed.
What is 1977.
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