UNIT 4: Credit/Debit

Front

What is the total amount of money you owe, including the original amount borrowed and any extra charges?

Back

Debt

Front

When you borrow money or buy something now and promise to pay for it later, often with extra money added, what is this called?

Back

Credit

Front

What is the extra money you have to pay when you borrow money or use credit?

Back

Interest

Front

What is the original amount of money you borrow before any extra charges are added?

Back

Principal

Front

What is the smallest amount of money you are required to pay back to the credit card company each month to keep your account in good standing?

Back

Minimum Payment

Front

What is a charge that some credit card companies make you pay just for having their credit card?

Back

Annual Fee

Front

What is the total amount of money you currently owe to the credit card company?

Back

Balance

Front

What is a number that shows how likely you are to pay back money you borrow? A higher number means you're more likely to pay it back.

Back

Credit Score

Front

What is a record of how you've paid back money you've borrowed in the past, such as from credit cards and loans?

Back

Credit Report

Front

What is the maximum amount of money you can borrow on a credit card or line of credit?

Back

Credit Limit