Understanding
Credit
Qualifying for Credit
Managing
Credit Cards
Taking Out
A Loan
Handling Debt
Problems
100
Property that is pledged to guarantee repayment of a loan
What is Collateral
100
Items owned, or assets
What is Capital
100
The annual rate of interest that is charged for using credit
What is APR
100
Final Payment that is much larger than the other installments
What is Balloon Payment
100
Overdue bill
What is delinquent
200
The supplying of money, goods, or services at present in exchange for the promise of future payment.
What is Credit
200
A person with an established credit history who signs a credit contract along with the borrower
What is Cosigner
200
A common grace period might be
What is 25 days
200
Portion of a purchase price paid by cash or credit at the time of the purchase
What is Down Payment
200
Record of your bill payments.
What is Credit History
300
A line of credit that can be used repeatedly
What is Open End credit
300
An evaluation of a consumer's credit history
What is Credit Rating
300
The maximum amount of credit that the creditor will extend to the borrower
What is Credit Limit
300
Unlicensed lender
What is Loan Shark
300
Legal relief from repaying certain debts
What is Bankruptcy
400
A set portion of a loan amount that a borrower must pay at regularly scheduled intervals
What is Installment
400
A record of a particular consumer's transactions and payment patterns
What is Credit Report
400
Paying your credit card balance in full during a period of time
What is Grace Period
400
Way to borrow money against a credit card
What is Cash Advance
400
A business that collects unpaid debt for creditors
What is Collection Agency
500
The original amount borrowed
What is Principal
500
A numerical rating that represents a person's level of creditworthiness
What is Credit Score
500
The annual percentage rate can go up or down
What is Variable
500
Money borrowed using ownership
What is Home Equity Loan
500
One of the debtor's financial responsibilities even after bankruptcy
What is Child Support
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