Managing Credit Vocabulary

Front

Credit

Back

Borrowing money to buy now, pay later

Front

Credit Score

Back

Numerical rating of creditworthiness

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Interest Rate

Back

Cost of borrowing, expressed as a percentage

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Principal

Back

Original sum of money borrowed

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Credit Limit

Back

Maximum amount you can borrow on a credit account

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Minimum Payment

Back

Smallest amount you can pay on a credit card bill

Front

Annual Percentage Rate (APR)

Back

Yearly interest rate charged on borrowed money

Front

Credit Report

Back

Record of your credit history

Front

Debt

Back

Money owed to others

Front

Secured Credit

Back

Credit backed by collateral