Credit Report
Credit Report
Vocabulary
Vocabulary
Vocabulary
100
This is the score that you receive to determine credit worthiness
What is FICO?
100
What percentage of your score has to do with length of credit history?
What is 15%?
100
Borrowing money with an agreement to pay it back later
What is credit?
100
The total dollar amount of all interest and fees you pay for the use of credit
What is finance charge?
100
A time frame within which you may pay your current balance in full and avoid any charges
What is grace period?
200
There are how many types of debt on your credit report?
What is 2?
200
Bankruptcy, judgements, collections, and charge offs show up under this section of the credit report
What is public records?
200
A person who borrows money from others
What is a debtor?
200
A pre established amount that can be borrowed on demand with no collateral
What is line of credit?
200
Unlicensed lenders who who charge illegally high interest rates
What is a loan shark?
300
This type of debt includes student loans, car loans, and mortgages
What is installment?
300
A credit card is this type of debt
What is revolving?
300
A person or business that loans money to others
What is a creditor?
300
An organization that makes high risk loans
What is a finance company?
300
The state law that sets a maximum interest rate that may be charged for consumer loans
What is usury law?
400
This is the range of your credit score
What is 300-850?
400
If you pay your full balance before the due date on your credit card you will avoid
What is interest?
400
The value of property you posess after subtracting your debts
What is capital?
400
A legal business that makes high interest loans based on the value of personal possessions pledged as collaterall
What is pawnbroker?
400
Chapter 13 is a form of this
What is bankruptcy?
500
This is the percentage your payment history included in your score
What is 35%?
500
This is the number of credit bureaus that reports your credit report
What is 3?
500
Property pledged to assure repayment of a loan
What is collateral?
500
The cost of credit expressed as a yearly percentage
What is APR(annual percentage rate)?
500
Mr. Humes middle name is
What is Thomas?
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