The max amount of credit a lender will extend to a customer.

Represents the actual dollar cost using credit to maintain a balance.

The length of the time you have to pay off the loan.

The amount you borrow from a lender.

The length of time you have before you state accumulating interest

The fee for spending more than your credit limit

Clause that allows creditors to hike up your interest rate if you make a late payment

____Loans are used specifically to purchase a home.

___ Loans are typically used for large purchases such as a car or appliances

__ is used when you want to buy something now and pay for it later

A legal process to get out of debt when can no longer make all your required payments.

___ Loans are used for tuition and other college expenses

Someone who is willing to loan you money.

The amount of money someone is willing to loan or “credit” you.

The amount you pay to use someone else’s money

__ is used when you want to buy something now and pay for it later

Financial institutions owned by the customers who are called members.

Annual Percentage Rate

A for- profit financial institutions owned by investors in its stock