CH.4 Going into debt

Front

A detailed report of an individual’s credit history

Back

Credit Report

Front

Type of card issued by a bank that allows users to finance a purchase

Back

Credit Card

Front

A measure of an individual’s credit risk; calculated from a credit report using a standardized formula

Back

Credit Score

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Interest rates for all types of credit are....

Back

Regulated by state and federal laws

Front

Consumers can transfer money electronically from their bank accounts to the bank accounts of stores or restaurants by using what?

Back

Debit cards

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What is a finance charge?

Back

Cost of credit expressed in dollars and cents.

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A financial institution that is owned and operated by members to provide savings accounts and low interest loans is called what?

Back

Credit Union

Front

Which of the following would be considered a durable good? Blouse, Gasoline, Hairbrush, Washing machine

Back

Washing machine

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What is a Usury law?

Back

A law that sets maximum interest rates consumers can be charged.

Front

What is a negative consequence of filing bankruptcy?

Back

The bankruptcy stays on your credit history about 10 years.