Credit Flashcard

Front

Using credit to buy goods or services

Back

forces you to spend future income

Front

An agreement that allows the borrower an indefinite period of time to repay is a(n)

Back

open end credit

Front

Loans that require collateral are

Back

secured loans

Front

Experian, Equifax, and TransUnion, LLC., are examples of

Back

credit reporting agencies

Front

You obtained a loan against the available credit on your account, therefore you took a

Back

cash advance

Front

A Visa card is an example of a(n)

Back

revolving credit account

Front

The most common form of bankruptcy filing is

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Chapter 7

Front

If you have trouble paying your bills, you should

Back

call your creditors

Front

The Truth in Lending Act requires contracts to include: penalties for late payment, description of collateral, amount financed, all of these.

Back

all of these

Front

The Equal Credit Opportunity Act prohibits discrimination against

Back

age