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.

a number assigned to a person that indicates to lenders their capacity to repay a loan.

the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

something, usually money, owed by one party to another.

Original amount of money borrowed (the actual amount of money needed for the loan), separate from interest or fees

A standard table that legally must appear in a credit card agreement showing basic information about the card's rates and fees

The cost you pay each year to borrow money, including fees, expressed as a percentage

A small loan, offered through a business, lent at a high interest rate that is usually hidden in fees, and meant to be paid as soon as you receive your next paycheck

a card you can use to pay for things. You buy a card with money loaded on it. Then you can use the card to spend up to that amount.

A loan in which the interest rate can change, based on prime rate or index rate, over the course of the loan

A contract (often used for cars or property) by which one party gives property to another for a specified time, usually in return for a periodic payment

A mortgage in which the initial interest rate is fixed only for a set period of time and then it changes based on the current rate (could go up or down)

Debt tied to a specific tangible asset that can be used as collateral and repossessed if payments are not made

The amount still owed on a loan from the perspective of a borrower or lender

An open line of credit that can be used for any purchases as long as you are under the limit; its payments vary monthly based on size of the debt (a credit card is an example of this type of credit)

A partial payment made in cash at the beginning of the purchase of a good the remaining balance is due later or is financed as part of a loan. This decreases the amount of the principle needed for the loan.

The paying off of debt over time in equal installments; part of each payment goes toward the loan principal while the other part goes toward interest

loans that imposes unfair, deceptive, or abusive loan terms on borrowers. In many cases, these loans carry high fees and interest rates. (A payday loan is an example of this)

A plastic card that allows you to make purchases now with borrowed money, which then you must repay to the lender in one lump sum or in monthly payments with interest