Credit Cards

Interest rate charged for balances on a credit card.

• APR

• Principal

• Collateral

• Fees

Open line of credit that can be used for any purchases as long as you're under the limit; payments vary monthly based on size of the debt.

• Fixed Rate

• Loan

• Revolving credit

• Principal

A number, generally between 300 and 800, that reflects the credit history shown in a borrower's credit report.

• credit history

• credit score

• credit application

• credit life

The smallest amount of a credit card bill that a credit card holder must pay each billing cycle; usually between 3-10%.

• maximum payment

• minimum payment

• fixed payment

• APR payment

Visa and Mastercard are what type of Credit Card?

• Bank Card

• Travel and Entertainment Card

• Oil Company Card

• Retail Store Card

Visa and Mastercard are what Charge Account?

• Regular Account

• Budget Account

• Revolving Account

• Normal Account

Which are the features of a Regular Account?

• Can carry a balance from month to month

• Must pay the balance at the end of the month

• Pay a finance charge

• Has a credit limit.

Which one is NOT a the feature of a Revolving Account?

• Can carry a balance from month to month

• Must pay the balance at the end of the month

• Pay a finance charge

• Has a credit limit.

Signing a loan for someone else and if they don't pay you have to, is called?

• Collateral

• Debtor

• Creditor

• Co-signer

What is the difference between a Debit Card and a Credit Card?

• A Debit Card is more Expensive than a Credit Card.

• The interest rate on a Debit Card is lower than a Credit Card

• A Debit Card is coming from your checking account and a Credit Card is a loan.