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Debt
Credit Score
Government Regulation
Miscellaneous
100
This item used to purchase goods is knwon as a "necessary Evil"
What is credit cards
100
This atomic bomb of financial decisions has the biggest impact on your credit score
What is bankruptcy
100
This is the legal way to clear most debt although laws have made this harder to declare
What is bankruptcy
100
This is the money the lending company makes off of a loan
What is interest
200
When you pay a fixed amount over a given time to pay off something you purchased it is known as _________ debt
What is installment
200
Loan providers check your _________ ________ to see if you qualify for a loan
What is credit rating
200
These laws restrict how much interest can be charged for credit.
What are usury laws
200
This the actual amount owed on a loan
What is interest
300
The cost of credit expressed as a yearly percentage is known as ___________
What is APR
300
Name three things that will not be included in your credit score
What is race religion gender handicapp
300
This legislation ensures that consumers are informed about the cost and conditions of borrowing
What is Truth in Lending Act
300
What are two examples of installment debt?
What is mortagae, auto loan
400
When you are able to purchase goods without having paid off the previous month's debt it is known as _________ debt
What is revolving
400
Name three things that can impact your credit score other than bankruptcy
What is payment history % of credit limit used Total of Balances Age of Credit Type of Credit Available Credit
400
This prohibits discrimination in giving credit
What is Equal Credit Opportunity Act
400
This type of loan requires no collateral in order to receive it
What is unsecured loan
500
The cost of credit in expressed dollars and cents
What is Finance Charge
500
What are the three bureaus that hold the information to your credit rating
What is Experian, Equifax, TransUnion
500
Protects the privacy abnd accuracy of information in a credit check.
What is Fair Credit Reporting Act
500
YOU SHOULD NEVER PUT THIS ON A CREDIT CARD AND THEN DECLARE BANKRUPTCY
What are STUDENT LOANS