Financial Literacy Flashcard

Front

What is the term for the percentage charged on a loan or paid on an investment?

Back

Interest Rate

Front

What is the time period called during which no interest is charged on a credit card balance?

Back

Grace Period

Front

What is the smallest amount you can pay on a credit card bill to avoid penalties?

Back

Minimum Payment

Front

What is the maximum amount you can borrow on a credit card?

Back

Credit Limit

Front

What is an additional payment or reward given to employees?

Back

Bonus

Front

What is a plastic card that allows you to borrow money up to a certain limit?

Back

Credit Card

Front

What is a plastic card that deducts money directly from your bank account?

Back

Debit Card

Front

What is a detailed report of an individual's credit history?

Back

Credit Report

Front

What is a numerical expression based on a level analysis of a person's credit files?

Back

Credit Score

Front

What is the ratio of a person's total debt to their total income?

Back

Debt to Income Ratio