Credit Cards-- Vocabulary

Define the term 'Amortization Table'.

• A table detailing the periodic payment on a loan

• A chart showing the stock market trends

• A list of all assets and liabilities

• A schedule of upcoming meetings

Define the term 'Annual Fee'.

• A fee charged annually for services or membership.

• A one-time fee charged at the beginning of a service.

• A monthly fee for using a service.

• A fee charged for late payments.

Define the term 'Annual Percentage Rate (APR)'.

• The interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.

• The monthly interest rate applied to a loan or credit card.

• The total amount of interest paid over the life of a loan.

• The percentage of a loan that is paid off each month.

Define the term 'Checks/Checkbook'.

• A book containing blank checks issued by a bank.

• A type of savings account.

• A financial statement summary.

• A credit card statement.

Define the term 'Credit'.

• A loan given by a bank

• A financial trust extended to a borrower

• A type of debit transaction

• A form of investment

Define the term 'Credit Card'.

• A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.

• A card issued by a bank allowing the holder to borrow funds with which to pay for goods and services.

• A card that allows the holder to deposit money into their bank account.

• A card used to withdraw cash from an ATM.

Define the term 'Credit Rating'.

• A measure of a person's creditworthiness

• A type of bank account

• A financial statement

• A loan application

Define the term 'Credit Score'.

• A measure of a person's creditworthiness.

• A type of bank account.

• A financial statement.

• A loan application form.

A Debit Card is:

• A card that allows you to borrow money from the bank

• A card that deducts money directly from your bank account

• A card used for online shopping only

• A card that earns you rewards points

Finance Charges are:

• Fees charged for borrowing money

• A type of investment income

• A government tax on financial transactions

• A discount offered by banks