4.0 Vocabulary

Open Ended

Explain how the Schumer Box helps consumers make informed decisions about credit cards.

Drag and Drop

Match the following terms with their correct descriptions.

Principal -

Placeholder

Credit limit -

Placeholder

Debt -

Placeholder

Loan term -

Placeholder

Drag these tiles and drop them in the correct blank above

Cosigner

Creditor

Debtor

Broker

Original amount of money borrowed,

The maximum amount that may be borrowed on credit

Money you owe someone else

The length of the loan before being repaid

Drag and Drop

Match the following terms with their correct descriptions.

APR -

Placeholder

APY -

Placeholder

Credit Card -

Placeholder

Interest Rate - ​

Placeholder

Drag these tiles and drop them in the correct blank above

Cosigner

Creditor

Debtor

Broker

The cost you pay to borrow money

The cost you pay each year to borrow money

A plastic card that allows you to buy things

The rate charged for borrowing money

Match

Match the following terms with their correct descriptions.

• Revolving Credit

• Installment Loan

• Mortgage

An open line of credit used for purchase

Loan used to finance a specific purchase

Loan used to purchase real estate

• An open line of credit used for purchase

• Loan used to finance a specific purchase

• Loan used to purchase real estate

Match

Match the following terms with their correct descriptions.

• Unsecured Debt

• Secured Debt

• Minimum Payment

• Amortization

Debt not tied to a specific asset

Debt tied to a specific tangible asset

The smallest amount that can be paid

Paying in equal payments over time

• Debt not tied to a specific asset

• Debt tied to a specific tangible asset

• The smallest amount that can be paid

• Paying in equal payments over time