Debit and Credit Flashcard

Front

Debt

Back

Money owed

Front

Credit Limit

Back

The maximum a cardholder can borrow. It is recommended that cardholders keep a balance of no more than 25 percent of the credit limit.

Front

Cash

Back

Money in the form of bills or coins

Front

Debit card

Back

A card that looks like a credit card but operates like cash; money is immediately subtracted from the cardholder's bank account when a purchase is made.

Front

Credit Score

Back

A standardized measurement of the potential to repay a debt.

Front

Credit Report

Back

A record of a person's financial information, including previous addresses, Social Security number, current and previous employers, estimated income, credit card accounts with amount owed and payment history, and loan information.

Front

Credit

Back

The amount of financial trust extended to a person or a business by a lender; a loan.

Front

Credit Card

Back

A card authorizing the holder to buy goods and services that can be paid for later.

Front

Bankruptcy

Back

a legal status of a person or other entity that cannot repay debts to creditors.

Front

Debit

Back

An amount deducted from a bank account.