Money charged by the lender for the amount borrowed, expressed as an annual percentage.

Amount of time allotted for repayment of a loan

Asset assigned as security for a loan

Ability to borrow money and pay it back later

Person who borrows the money

Money that must be repaid

Person or business who loans the money

Credit backed by collateral

Credit not backed by collateral

An amount owed on an account

A set rate that does not change month to month

Goes up and down with inflation and economic conditions

The payment made towards the loan balance every month

The maximum amount an individual can borrow

Amount of time to pay your current bill before fees

Period of days between billings

Amount required to be pay monthly

Paid yearly whether you use your card or not

A fee that occurs when moving balance from one credit card to another.

Money borrowed against your account. Example using an atm

Violated terms of credit agreement

Money buyer pays up front to reduce principal