Credit Score
Credit/Debit Cards
Checking Accounts
Checks
Banks/Credit Unions
100
Information based on your borrowing/payment history.
What is a credit score?
100
A card issued that borrows funds from the bank, it also gains interest.
What is a credit card?
100
Account held at a financial institution that allows withdraws and deposits.
What is a checking account?
100
Piece of paper verified to be as good as cash.
What is a check?
100
Institutions that can be online, local, or national. Can be ran by its members, or by the owner.
What is a bank or credit union?
200
Not paying your payments on time, bouncing checks, or ignoring bank notices.
What can hurt your credit score?
200
Card used that draws money directly from the account.
What is a debit card?
200
Something that should always be linked to your checking account.
What is a savings account?
200
Name written on check that has to be the exact same as every other time you wrote it.
What is a signature?
200
Card used for getting money from a machine.
What is an ATM card?
300
A record of how a consumer has repaid credit obligations in the past.
What is Credit History?
300
Limit to how much you can borrow. Never go above 80%
What is a credit limit/line?
300
These checking accounts usually require a minimum balance to open and you may need to maintain an even higher balance to avoid fees.
What is a Interest Bearing Account?
300
When you write a check but do not have the money to back it up.
What is a bounced check?
300
Small print that has extra information.
What is fine print?
400
A proceeding in U.S. Bankruptcy Court that may legally release a person from repaying debts owed. Will show up ten years on your report.
What is bankruptcy?
400
The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
What is an interest rate?
400
These fees are charged to customers for specific services or as a penalty for not meeting certain checking account requirements, such as insufficient funds in a checking account.
What is a service charge?
400
When the payee signs their name on the back of a check to cash or deposit the check.
What is an endorsment?
400
When the bank doesn't directly deposit your money.
What is a "hold"?
500
Information communicated by a credit agency that bears on a consumer's credit standing. Consumer name, address, credit history, inquiries, collection records, and any public records such as bankruptcy filings and tax liens are all included.
What is a credit report?
500
Period in which you can pay your bill without paying interest.
What is a grace period?
500
Prevents bounced checks or overdrawing. Sometimes comes with the account.
What is Overdraft protection?
500
Digits you write on the back of your check when it's deposit only.
What is an account number?
500
A payment that is electronically deposited into an individual's account at a depository institution
What is a direct deposit?
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