Credit is an agreement between two parties in which one party lends money or provides goods or services to another party with the understanding that payment will be made at a later date.
What is credit?
100
Use of goods and services as you pay for them.
What is one advantage of using credit?
100
Department Store.
What is one chain store located across the country?
100
Commissions.
What is one thing earned income includes?
200
The creditor is the party to whom money is owed.
What is a creditor?
200
To pay with savings.
What is one credit alternative?
200
Discriminate against consumers.
What does the Equal Opportunity Act prohibit
200
To order goods and services.
What is the main purpose of using a catalog?
200
Periodic equal payments.
What is salary paid?
300
Consumer credit is credit granted to individual consumers by a retail business.
What is consumer credit?
300
Be unable to get loans and credit cards.
What is a person with a low credit score be unable to do?
300
Accuracy and privacy of information.
What does the Fair Credit Reporting Act require
300
Consumers and Businesses
What is two things is E-commerce used?
300
Minimum wage.
What should piecework add up to
400
Low-risk borrowers are those who are most likely to pay their
What is low-risk borrowers?
400
Not to use credit cards for everyday purchases.
What is a financial expert tell you not to do
400
It protects them against unfair methods of collecting debts.
What ways does the Fair Debt Collection Practices Act protect consumers?
400
Selling price.
What is the price a consumer will pay for a product?
400
Pay-as-you-earn concept
What is the concept that the federal income tax system built?
500
A credit score is a numerical measure of a loan applicant’s creditworthiness at a particular point in time.
What is a credit score?
500
Pay the balance in full each month.
What is a financial expert going to suggest?
500
Prohibits the distribution of unrequested EFT cards.