Credit Cards

Finance Charges

100

Yearly fee charged by some credit card companies

What is an ANNUAL FEE

200

Ciara doesn't have to pay interest on her charges for 4 weeks. This period of time is referred to as the

What is GRACE PERIOD

300

Christian pays a fee to a lender for use of their money. This is fee is referred to as

What is INTEREST

400

Josiah pays a total of 18.99% interest. This acronym is know as

What is APR (ANNUAL PERCENTAGE RATE)

500

Skylar pays her bill after the due date and is charged this additional fee:

What is a LATE PAYMENT FEE

Credit Card Statements

100

Brian spend up to $500 on his credit card. This max amount is referred to as

What is CREDIT LIMIT/LINE

200

Julianna takes years to pay off her balance because she pays the lowest possible payment. This is referred to as

What is the MINIMUM PAYMENT

300

Stephen throws out his statements and doesn't pay his bill. He might need someone to promise to pay his bill if he doesn't when applying for his next loan.

What is a COSIGNER

400

Kassidy pays the amount for 36 months to pay off her car loan with no additional/hidden costs. These payments are called

What is INSTALLMENTS

500

Leah notices that there are charges on her card that are fraudulent. How many days does she have to dispute the charges?

What is 60

Credit Reports

100

A lender's check or view of your credit rating

What is an INQUIRY, Credit check

200

Claire's detailed record of past borrowing and credit payments is referred to as her

What is Credit History/Credit Rating

300

Why would Ciara contact Experian, Transunion or Equifax?

What is to obtain a copy of her CREDIT REPORT

400

Kerra wants to know what her credit score is and requests info at freecreditreport.com. What is this document called?

What is a CREDIT CARD STATEMENT

500

Jenna has excellent credit. Her score would range from ________ to __________.

What is 750 to 850

Credit Card Solicitations

100

Paying off one credit card balance by moving it to another credit card

What is a BALANCE TRANSFER

200

Kayla asks her customers if they would like to sign up for a Modell's Credit Card when they check out. This type of store credit card is referred to as:

What is a RETAIL CARD

300

Vito is excited about his new credit card invitation because it comes with an APR of 0% for the first 6 months. This invitation is called a

What is a CREDIT CARD SOLICITATION

400

Lisa receives a solicitation with a 0% interest on using her credit card to get money out of a bank machine. This process is called a

What is CASH ADVANCE

500

Sean borrows $4,500 to buy a car. What is the term associated with the original amount borrowed?

What is PRINCIPAL