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
Record of a particular consumer's transactions and payment patterns
What is Credit Report
100
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
Legal relief from repaying certain debts
What is Bankruptcy
200
Supplying of money, goods, or services at present in exchange for the promise of future payment
What is Credit
200
Items owned or assets
What is Capital
200
Common Grace period for payment
What is 20 to 25 days
200
Portion of a purchase price paid by cash or check at the time of purchase
What is Down Payment
200
One of a debtor's financial responsibilities even after bankruptcy
What is Child Support
300
Cost of using credit
What is Interest
300
Numerical rating that represents a person's level of creditworthiness
What is Credit Score
300
Maximum amount of credit that the creditor will extend to the borrower
What is Credit Limit
300
Unlicensed lender
What is loan Shark
300
Business that collects unpaid debt for creditors
What is Collection Agency
400
Set portion of a loan amount that a borrower must pay at regularly scheduled intervals
What is Installments
400
Evaluation of a consumer's credit history
What is Credit Rating
400
Annual percentage rate that can go up or down
What is Variable
400
Way to borrow money against a credit card
What is Cash Advance
400
Overdue payment
What is Delinquent
500
Original amount borrowed
What is Principal
500
Person with an established credit history who signs contract with you
What is Cosigner
500
Paying your credit card balance in full to avoid a finance charge
What is Grace Period
500
Money borrowed using the ownership interest in a home as security
What is home equity loan
500
Court-ordered withholding of a specified sum from a person's wage to pay a debt
What is Garnishment
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