Unit 3 Vocabulary

The complete record of your borrowing and repayment performance.

• Finance Charge
• Credit Report
• Open-End Credit
• Closed-End Credit

A responsible attitude toward honoring obligations, often judged on evidence in the person's credit history.

• Billing Statement
• Creditor
• Character
• Credit History

A determination that you are a good credit risk.

• Grace Period
• Credit Report
• Creditworthy
• Credit Bureau

A loan for a specific amount that must be repaid in full, including all finance charges, by a stated due date.

• Finance Charge
• Creditor
• Character
• Closed-End Credit

Property pledged to assure repayment of a loan.

• Grace Period
• Creditor
• Collateral
• Credit

A credit arrangement that enables a borrower to use credit up to a stated limit.

• Debtor
• Capital
• Open-End Credit
• Credit Bureau

The use of someone else's money, borrowed now with the agreement to pay it back later.

• Capacity
• Billing Statement
• Credit Score
• Credit

An itemized bill showing charges, credits, and payments posted to your account during the billing period.

• Finance Charge
• Billing Statement
• Creditworthy
• Credit History

A person who borrows money from others.

• Debtor
• Billing Statement
• Creditworthy
• Minimum Payment

A person or business that loans money to others.

• Capital
• Creditor
• Creditworthy
• Line of Credit