vocabulary
A ___________ is money you borrow now and agree to pay back later, often with interest
loan
Credit can only by used for large purchases, like a car or home
False
Juliane has to pay back her loan in 5 years. This is her _________.
loan term
What is the new balance on this credit card?
$380
Jamal uses his __________ to buy groceries, and the money come straight out of his bank account.
Debit Card
when you used credit, you have to pay it back with interest
true
When Devon became an _______________ on his sister's credit card, he was able to use the credit card to make purchases and start building his credit score.
authorized user
What is the limit on this credit card?
$1,500
Your _____ is the amount of money that you still owe on a loan or credit card.
balance
a store credit card can be used to buy things anywhere
False
When you only make the _____________ payment on your credit score, the rest of the balance will continue to grow with interest.
minimum
What is the minimum payment due?
$62
Your __________ is like a report card that shows how well you've paid money back in the past.
Credit History
Emma checked her ________ before applying for a loan to make sure it was high enough to get approved.
credit score
when is the payment due?
June 23
To help his daughter get approved for a loan, Mr. Torres agreed to a(n) ______________, promising to pay if she didn't.
co signer
An _____ is often used by people trying to build credit. They can only spend the money they put down.
secured credit card