Credit Flashcard-Management

Front

A disadvantage of using credit is impulse buying

Back

True

Front

Capital refers to a person’s assets.

Back

True

Front

What is principal?

Back

The non-interest portion of a loan.

Front

Paying your bills on time is a characteristic of: capital, character, capacity

Back

character

Front

Having a steady job is an example of: character, capacity, capital

Back

capacity

Front

Installment credit usually allows a person to make additional purchases on an account.

Back

False

Front

A common advantage of using credit is:

Back

ability to obtain needed items now

Front

APR is the _______ rate charged by a credit card.

Back

Interest

Front

Character answers which of the following question? will you repay the debt?, what if you don’t repay the debt?, can you repay the debt?

Back

will you repay the debt?

Front

Paying for a jacket with a credit card is considered what type of credit?

Back

revolving