Credit Basics

One that loans money to another

(a)  

How likely a potential borrower is to pay back debt or term used to describe if a person is a good risk when loaning money

(a)  

Debt not tied to a specific asset

(a)  

Finances a specific purchase for a specific amount of time

(a)  

Open line of credit that can be used for any purchases as long as you're under the credit limit

(a)  

Debt tied to a specific asset that can be used as collateral and repossessed if payments not made

(a)  

Interest rate that can change during the duration of a loan

(a)  

One who receives money

(a)  

Interest rate remains constant during duration of a loan

(a)  

The amount being borrowed

(a)