Paper or Plastic
This is the phrase used on a credit card statement to show total interest paid.
Finance Charge
This type of credit can be used over and over again, with no ending date.
This is generated by 3 credit agencies and can be viewed once a year for free.
Credit Report
The maximum amount of credit that a creditor will give you.
Credit Limit
The largest influence on your credit score is this.
Payment History
What fee is charged to you for the privilege of having their card?
Annual Fee
This type of interest rate can change whenever the lender wants to change it.
Variable
How long will bankruptcy stay on your credit report as negative information?
10 years
The original amount of money borrowed
Principal
This area of the FICO credit scoring model looks at how long your have had credit for.
Length of Credit History
When you make a charge on your credit card, this is the amount of time you have to pay off the balance before interest accrues.
grace period
This is what turns unsecured credit into secured credit.
Collateral
What is the website where you can obtain your free credit report once a year from the federal government?
The APR written in either a daily or monthly form.
Periodic Rate
The three credit reporting agencies are Equifax, Experian and what?
TransUnion
When you get cash from your credit card, it is this type of transaction, which usually has a higher APR than your purchase APR
Cash Advance
This type of credit is repaid in monthly payments.
Installment
This C of credit looks at your credit utilization ratio.
Capacity
The legal withholding of a specified amount from a person’s wages in order to repay a debt.
Garnishment
If you open 5 new credit cards in a week, which area of your credit score will be impacted the most?
New Credit
This type of credit card can only be used at 1 particular store.
Private Label
If I take out a loan for a car, what type of credit do I have? (name the 3 types)
Secured, installment, closed-end
This type of inquiry into your credit history will not have an impact on your score.
Soft Inquiry
A business that collects unpaid debt from people who've defaulted.
(Debt) Collection Agency
What type of credit scoring model in used by Credit Karma?
Vantage Score