Credit, ID Theft, and Michelle Brown Test Review

The amount you pay to use someone else's money.

• Credit

• Principal

• Creditor

• Interest

The length of your loan (usually based in years)

• Duration

• Principal

• Term

• Expiration

The people or organizations to whom you owe money are referred to as... 

• Loan Sharks

• Creditors

• Credit Bureaus

• Credit Karma

Borrowing money.

• Interest

• Rate

• Principal

• Credit

The amount of money you borrow.

• Interest

• Loan

• Credit

• Principal

A form of fraud in which someone pretends to be someone else. 

• Phishing

• Dumpster Diving

• Mutation

• Identity Theft

Has a variable rate and payments; open-ended (allows you to borrow, pay it back and borrow again).

• Secured

• Unsecured

• Installment Loan

• Revolving Credit

Has a fixed rate, term, payments.

• Credit Card

• Installment Credit

• Bail Bond

• Security Installment

One of the best examples of revolving credit is?

• Mortgage

• Car Loans

• Bankruptcy

• Credit Card

Opening a Passbook or Statement Savings Loan is the best way to?

• Earn Money

• Gain trust with your bank

• Build credit

• Impress Mrs. Wilson-Marro