Credit

Front

What is a loan term?

Back

The period in which the loan is to be repaid, each payment broken down into individual installments.

Front

What does APR mean?

Back

Annual Percentage Rate

Front

This is a fee that some, but not all, credit card issuers charge to use their credit card.

Back

annual fee

Front

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

Back

minimum payment

Front

Which one is considered a danger of using a credit card: no cash needed, leads to overspending, convenient, earns rewards?

Back

leads to overspending

Front

Your credit score is not configured off of which of the following: Payment history, Amount owed, Where you live, Length of credit history

Back

Where you live

Front

To build a good credit history, you should: open as much credit as possible quickly, use the maximum credit allowed on all your credit cards, pay on time and as much of your balance as possible, all of these

Back

pay on time and as much of your balance as possible

Front

Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.

Back

true

Front

What are the three major Credit Reporting Agencies (CRAs)?

Back

Equifax, TransUnion, Experian