Types of Credit Vocab
Authored by Wayground Content
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9th - 12th Grade
Used 1+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan taken by individuals and businesses to make real estate purchases (home, land, business) without paying the entire value of the purchase up front
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a card that lets you spend money from your checking account without writing a check. You can use this to buy things in a store and get cash from an ATM.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a number assigned to a person that indicates to lenders their capacity to repay a loan.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something, usually money, owed by one party to another.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Original amount of money borrowed (the actual amount of money needed for the loan), separate from interest or fees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A standard table that legally must appear in a credit card agreement showing basic information about the card's rates and fees
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