Personal Finances Vocab Flashcard

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Issuer

Back

The company that provides credit cards to consumers.

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Posted Transaction

Back

An account transaction that has been fully processed, reflecting the actual balance.

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Credit Score

Back

A number assigned to a person based on their creditworthiness, indicating their ability to repay debts.

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SIMPLE IRA

Back

A retirement plan designed for small businesses that allows employees to save and invest for retirement.

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Pending Transaction

Back

An approved transaction that is reflected in the account balance but has not yet been fully processed.

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Debit Card

Back

A card that allows the holder to access funds directly from their bank account.

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Minimum Payment

Back

The smallest amount of money that must be paid on a credit card bill to keep the account in good standing.

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Credit Card Balance

Back

The total amount of money owed on a credit card at any given time.

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401(k)

Back

A retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

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Fraudulent Transaction

Back

A transaction that is unauthorized and typically involves theft or deception.