Credit 1-15

What does APR stand for?

• American Peoples Reports
• Annual Progress Report
• American Percentage Rate
• Annual Percentage Rate

Total interest you are charged each year on what you owe a credit card company

• Annual Percentage Rate (APR)
• Annual Fee
• Interest
• Debt

What allows consumers to pay the manufacturer to purchase a car instead of going through a bank

• Apr

• Auto finance company

• 5 cs of credit

• Cash advance

What is the amount remaining on an account

• Balance owed

• APR

• Cash advance

• Collateral

What is a business / financial institution that stores and manages money for individuals and other businesses?

• A Bank

• Credit card company

• Auto finance company

What is bankruptcy?

• when you cancel a credit card

• legal process declaring yourself unable to pay debts

• deciding who gets your money when you die

• when you make a late payment

"fresh start"

• bankruptcy chapter 7

• bankruptcy chapter 11

• bankruptcy chapter 13

reorganization for a business

• bankruptcy chapter 7

• bankruptcy chapter 11

• bankruptcy chapter 13

reorganization for an individual

• bankruptcy chapter 7

• bankruptcy chapter 11

• bankruptcy chapter 13

The cash received when money is borrowed on a credit card. Typically involve special fees and higher interest rates than when used for purchases.

• Cash Advance

• Balance

• Minimum Payment

• Loan