Hunter: Credit

A mortgage in which the initial interest rate is normally fixed for a specified period of time after which it is reset periodically, often every month

• APR

• AER

• ARM

• FDIC

A type of loan where you borrow money from your retirement savings account. You must pay that borrowed money back, plus interest, within 5 years of taking your loan, in most cases.

• 401K Loan

• BBVA Loan

• Social Security Loan

• Payday Loan

A yearly fee that may be charged for having a specific credit card, independent of how you use the card

• Annual Fee

• Service Charge

• Overdraft Fee

• Sales Tax

The cost you pay each year to borrow money, including fees, expressed as a percentage

• APR

• FDIC

• FICA

• Payday Loan

The act of transferring debt from one credit card account to another, usually for a fee

• Balance Transfer

• Credit Card

• Cash Advance

• Mortgage

A credit card service that allows cardholders to withdraw a certain amount of cash, either through an ATM or directly from a bank, typically at a high interest rate or for a fee

• Cash Advance

• Payday Loan

• Deposit

• Withdrawl

A credit card benefit that pays the cardholder a small percentage of their net expenditures, often as cash, payment toward their balance, reward points, travel miles, or gift cards

• Cash Back

• United Air miles

• Money back Guarantee

• Gift Cards

Something valuable that the lender can take as payment if you can't or don't repay your secured loan

• Collateral

• Car Title

• US savings bond

• Cashier's Check

A loan that combines two or more education loans into a single loan, allowing the borrower to make a single monthly payment

• Consolidation Loan

• Home Loan

• Car Loan

• Time share Loan

A plastic card that allows you to make purchases now with borrowed money, which then you must repay to the lender in one lump sum or in monthly payments with interest

• Credit Card

• Baseball Card

• Driver's License

• Social Security Card