Credit Vocabulary 2

an entity, such as a financial institution, merchant, or individual, that lends money

• Credit Card

• Creditor

• Predatory Lender

• Capital

The maximum level of output of goods and/or services that a given system can potentially produce over a set period of time

• Capacity

• Character

• Credit Limit

• Variable Interest Rate

a set of qualities that are shared by many people in a group, country, etc

• Open End Credit

• Credit

• Client

• Character

the income you receive (take-home pay, allowance, gifts, and interest)

• Principal

• Net Income

• Gross Pay

• Annual Fee

the borrower gives the lenders his/her automobile title in exchange for a set amount of cash. The lender holds the title until the loan is repaid. If the loan is not repaid as agreed, the lender keeps the title to the item

• Title Loan

• Pawn Shop

• Pay Day Loan

• Loan Shark

confidence in a purchaser's ability and intention to pay, displayed by entrusting the buyer with goods or services without immediate payment

• Pay Day Loan

• Pawn Shop

• Credit

• Title Loan

a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them in the future.

• Debit card

• Gift card

• Pre-paid Card

• Credit cards

a nonprofit agency with offices in a number of state

• Consumer Credit Counseling Services (CCCS)

• Consumer Credit Protection Act (CCPA)

• The CARD Act of 2009

• Equal Credit Opportunity Act (ECOA)

a personal loan to purchase an automobile

• Pay Day Loan

• Personal Loan

• Car Loan

• Mortgage

An interest rate on a loan or security that fluctuates over time

• Fixed Interest Rate

• Variable Interest Rate

• Down Payment

• Lien