Credit 1
3 C's of Credit
Capacity, Character, and Collateral.
A record of a borrower's responsible repayment of debts?
Credit History
A printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it?
Bank Statement
The very high interest rate charged by the credit card issuer when a borrower violated the card's terms and conditions.
Penalty
A budget to which revenues are equal to expenditures?
Balanced budget
What does APR stand for?
Annual Percentage Rate
A person who purchases goods and services for personal use?
Consumer
A check for which there are not enough funds in the bank customer's account to cover it.
Bounced Check.
A number allocated to an individual and used to validate electronic transactions?
PIN Number
An Estimate of income and expenditure for a set period of time?
Budget
The amount of credit available to a business or individual from a banking institution in the form of loans.
Bank
The amount owed by consumers?
Consumer debt
A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier?
Cashier's Check
The fraudulent, deceptive, and unfair tactics some people use to dupe us into mortgage loans that we can't afford?
Predatory Lending
The amount by which something, especially a sum of money, is too small?
Deficit
The situation that occurs when a person or business is not able to pay back debts?
Bankruptcy
An estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings.
Credit Rating
A form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written?
Certified Check
A legal lending document that says the borrower promises to repay to the lender a certain amount of money in a certain time frame?
Promissory Note
Money received, especially on a regular basis, for work or through investments.
Income
An item of value that a lender can seize from a borrower if he or she fails to repay a loan according to agreed terms?
Collateral
A detailed breakdown of your credit history prepared by a credit bureau?
Credit Report
A written, Dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer?
Check
A way to double-check your bookkeeping?
Reconcile
Your daily expenses and your short-term sending.
Needs