Credit & Debt Vocabulary
Authored by Lauren Litcofsky
Social Studies
12th Grade
Used 4+ times
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75 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the paying off of debt over time in equal installments; part of each payment goes towards the loan principal while the other part goes towards interest
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a yearly fee that may be charged for having a specific credit card, independent of how you use the card
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the cost you pay each year to corrow money, including fees, expressed as a percentage
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a credit card service that allows cardholders to withdraw a certain amount of cash, either their an ATM or directly from a bank, typically at high interest rates or for a fee
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a credit card benefit that pays the cardholder a small percentage of their net expenditures, often as cash, payment towards their balance, rewards points, travel miles, or gift cards
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something valuable that the lender can take as payment if you can't or don't repay your loan
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