What is credit?

A percentage of an unpaid bill added to your account

• interest rate

• annual fee

• credit

• credit limit

Big companies such as mastercard and Visa provide this type of credit that can be used almost anywhere.

• balance

• major credit cards

• interest rate

• annual fee

The total amount you are approved to charge on a credit card.

• balance

• contract

• credit limit

• annual fee

A yearly cost charged by a credit card company for use of your card.

• loan

• balance

• annual fee

• credit limit

Money borrowed to pay for a large purchase like a car or home.

• credit limit

• interest

• balance

• loan

A way of buying something if you do not have the money for it.

• interest rate

• credit

• credit limit

• retail

Smallest amount you can pay on a credit card bill.

• annual fee

• interest rate

• balance

• minimum payment

Written agreement outlining the terms of a loan.

• balance

• retail

• credit

• contract

Many big stores have their own credit cards that use this type of creidt; can only be used in their stores to make purchases.

• loan

• credit limit

• retail

• annual fee

Amount owed to a lender or credit card company.

• balance

• retail

• credit limit

• contract