Build Vocab

1. Annual Fee

• Monthly Fee
• Bi-Annual Fee
• • The fee you pay for a credit card each year .

• One-Time Fee

1. Annual Percentage Rate (APR)

• Monthly Percentage Rate (MPR)
• Yearly Interest Percentage (YIP)
• Quarterly Interest Rate (QIR)
• • The interest rate you pay on balances you carry over from month to month on a credit card 

1.  Authorized user

• Restricted user
• Permitted user
• Unauthorized user
• •  A person allowed to use a credit card account by the primary cardholder

1. Character 

• A character is a letter of the alphabet.
• A character is a type of font.
• A character is a mathematical symbol.
• • How reliable you are in repaying debts 

1. Cosigner

• A cosigner is a type of credit card
• • Someone like a parent,family member, or  a friend who promises to pay back a loan if you don’t  

• A cosigner is a financial advisor
• A cosigner is a type of insurance policy

1. Credit  

• Savings
• • Buying something you need now with a promise to pay later. Credit is also a measure of financial wellness

• Debit
• Loan

1. Credit card 

• Cash
• Debit card
• • A card that lets you make monthly payments to repay money that you spend 

• Bank transfer

1. Credit freeze 

• Freeze your credit by contacting your bank
• • Restrict access to your credit report

• Only contact one credit bureau to freeze your credit
• Ignore freezing your credit and hope for the best

1. Child identity theft 

• • When someone uses a minor’s personal information, such as name, address, or Social Security number to get credit

• Child identity theft is not a serious issue
• Child identity theft is only a concern for adults
• Child identity theft is a myth

1. Credit Limit 

• Credit limit is the minimum amount of credit a lender will extend to a borrower.
• Credit limit is the maximum amount of cash a borrower can withdraw from an ATM.
• Credit limit is the interest rate charged on a loan.
• • The maximum amount you can append on a credit card before you have to start to paying it back