Credit Vocabulary 1

Company that lends money to help people buy a car.

• Auto finance company

• credit card company

• car manufacturer

• auto repair shop

When you borrow money with a credit card at an ATM machine.

• Cash withdrawal

• cash advance

• debit withdrawal

• collateral

A written record of your past borrowing, including credit cards, car loans, mortgage, etc.

• cash advance

• collateral

• debit card

• credit history

When you borrow money and you promise something as a security in case you can't pay.

• credit rating

• credit history

• collateral

• balance owed

The money you still need to pay on your credit card or other type of loan.

• collateral

• credit rating

• balance owed

• cash advance

A number that shows how CREDIT WORTHY you are.

• credit score

• credit card

• credit history

• collateral

The annual percentage rate of interest charged to borrow money with a credit card.

• APR

• balance owed

• cash advance

• credit history

The maximum amount of money you can borrow on a credit card.

• 3 C's of credit

• minimum payment

• credit card

• credit limit

The period between when you buy something with a credit card and when you need to pay the bill.

• Due date

• Credit limit

• grace period

• Don't choose this one.

A plastic card that let's you borrow money to pay for things. You should pay the bill each month.

• credit card

• debit card

• credit rating

• credit limit