Vocab Flashcard (Roots and credit)

Front

What are the three major credit bureaus?

Back

Equifax, Experian, and TransUnion.

Front

What is a graphic?

Back

A graphic is something that you draw.

Front

What do people file for when their debt exceeds their ability to pay it back?

Back

Bankruptcy.

Front

What do monthly payments cover besides interest?

Back

The principal.

Front

What is the lowest possible credit score?

Back

300.

Front

What is a credit score?

Back

A numerical expression of a person's creditworthiness.

Front

What is the purpose of a credit bureau?

Back

To collect and maintain consumer credit information.

Front

What does filing for bankruptcy do?

Back

It provides relief from debts and a fresh start financially.

Front

What is the principal in a loan?

Back

The original sum of money borrowed.

Front

What factors can affect a credit score?

Back

Payment history, credit utilization, length of credit history, types of credit, and new credit inquiries.