Math-Unit 6 Review

A card that allows you to buy items now and pay for them later

• credit card

• loan

• mortgage

To let someone borrow something, such as money

• credit card

• loan

• mortgage

A loan used to buy a home

• credit card

• loan

• mortgage

A person who applies with you for a credit card account

• co-applicant

• cosigner

• monthly statement

• minimum payment

The least amount of your balance that you must pay to the credit card company each month

• co-applicant

• cosigner

• monthly statement

• minimum payment

Someone who signs a loan contract with a borrower and promises to pay back the loan if the borrower doesn’t pay.

• co-applicant

• cosigner

• monthly statement

• minimum payment

A form, like a bank statement, sent by your credit card company to bill you for what you owe every month and to update you on the status of your account.

• co-applicant

• cosigner

• monthly statement

• minimum payment

The total amount of money you owe on your account

• balance

• available credit

• credit limit

• finance charge

A fee you pay each month for borrowing money; it is based on a certain percent of the balance not paid

• balance

• available credit

• credit limit

• finance charge

The most money you can borrow on a credit card.

• balance

• available credit

• credit limit

• finance charge