NEW
Font size
WorksheetsCredit Vocabulary
Total questions: 22
Worksheet time: 11mins
Amount owed on a credit card or loan
Balance
Credit
Interest
Capacity
the state of legally having been declared unable to pay off debts owed with available income
Bankruptcy
Debt
Credit
Credit Rights
An arrangement to receive cash, goods, or services now and pay for them in the future.
Credit
Credit history
Credit report
Creditor
company that collects information about your credit history and sells it to lenders
Credit
Creditor
Credit Bureau
Credit cards
person or institution to whom money is owed
Creditor
Credit
Balance
Principal
a detailed report of an individual's credit history
Credit Report
Credit Score
Creditor
Credit history
a number assigned to a person that indicates to lenders their capacity to repay a loan.
Credit score
Credit report
Credit history
Credit bureau
Failure to make minimum payment on time
Delinquent
Debt
Credit
Repossession
A sum paid or charged for the use of money or for borrowing money
Interest
Principal
Balance
Debt
The amount of money borrowed
Principal
Principle
Creditor
Credit
The act of taking an asset used as collateral and selling it to pay the debt
Repossession
Delinquent
Character
Capacity
A plastic card issued by a bank or business used to buy goods and services on credit.
Credit Card
Debit Card
Prepaid Card
Gift Card
The process in which interest is earned on both the principal and on any previously earned interest.
(Note- this was a good thing for EARNING interest, but a bad thing for having to pay interest)
Compound interest (compounding)
Simple interest
Minimum
Complex
The smallest amount that a borrower can pay on an amount owed and remain a borrower in good standing.
Minimum monthly payment
Full payment
$50
$10
