a measure if an individual’s credit risk; calculated from a credit report using a standardized formula

• credit score

• credit union

• credit report

• loan

a detailed report of an individual’s credit history

• credit card

• annual fee

• credit report

• annual percentage rate (APR)

a decrease or loss in value

• loan term

• annual fee

• credit report

• depreciation

cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on an loan

• annual percentage rate (APR)

• debt snowball

• lender

• tax deduction

type of card issued by a bank that allows user to finance a purchase

• credit report

• credit card

• debit card

• cash

an interest rate charged to a customer during the early stages of a loan; the rate often goes up after a specified period of time

• depreciation

• loan term

• introductory rate

• debt snowball

a yearly fee that’s charged by the credit card company for the convenience of the credit card

• loan term

• debt snowball

• annual fee

• tax deduction

preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, and high is attracted with the largest possible payment.

• depreciation

• debt snowball

• loan term

• introductory rate

an expense, such as a charitable contribution, that can be deducted from one’s taxable income

• tax deduction

• loan term

• annual percentage rate (APR)

• credit card

time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term.

• annual fee

• depreciation

• loan term

• introductory rate