What is the term for a bank charge for use of a credit card levied each year, which is billed directly to the customer's monthly statement?

The interest rate reflecting the total yearly cost of the interest on a loan.

The period that your charges are applied to your credit card. This is also the period used to calculate your balances and monthly finance charge.

What does 'capital' refer to in finance?

What is a cash advance?

Enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

A trustee is appointed to liquidate (sell) the company's (or individuals) assets. The proceeds are used to pay off the debts, and then the remaining debt is discharged.

A record of your credit history that includes information about your identity, existing credit, public record, and inquiries about you so that they can evaluate if a debtor may be extended credit.

Trustworthiness with money based on prior history. General qualification for borrowing.

Person or company with whom a consumer has an outstanding debt.

A bank card with direct access to a cardholder's account, usually a checking or savings account.

A card used to buy goods and services from the issuing merchant and paying for them later.

The rate of borrowers who fail to remain current on their loans.

Any account that is not been paid in accordance with the payment guidelines stipulated by the creditor and agreed to by the debtor.

Cash payment made on credit purchase before balance is figured.

A 3-digit number representing a person's credit score calculated with software by a California-based company.

The charge for using a credit card, comprising interest costs and other fees.

The time between the billing date and the payment due date when no interest is charged.

The amount you earn from working before taxes and other deductions are taken out.

A loan that is repaid over time with a set number of payments made toward the loan.

The charge for the privilege of borrowing money.

The low rate charged by a lender for an initial period to entice borrowers to accept the terms.

A charge a consumer pays for making a required minimum payment after the due date.

The lowest amount a cardholder can pay to keep the account from going into default.

The amount of money left from your paycheck after taxes and other deductions are paid.

A fee charged for exceeding the credit limit on the card.

Short term borrowing where an individual borrows a small amount at a very high rate of interest.

When a consumer pays an account balance in full. ________

A potential customer has passed a preliminary credit information screening.

Any type of lending practice that imposes unfair or abusive loan terms on a borrower.

A method used by some card issuers where they base their finance charges on the amount owed at the end of the previous billing cycle.

Amount of money borrowed.

Property or any tangible assets used as security to get a loan.

An agreement to lend a specific amount to a borrower and to allow that amount to be borrowed again once it has been repaid.

An evaluation by a creditor or credit bureau to reflect a debtor's past credit history based on their payment pattern.

Lenders that charge a higher interest rate to compensate for potential losses from customers who are likely to run into trouble or default.

The rules which one must agree to abide by in order to use a service.

A debt which has no collateral linked to the debt.

When a specific item is used as collateral to guarantee payment.

A company that collects and sells information on how people handle credit It issues credit reports that list how individuals manage their debts and make payments, how much tapped credit they have available, and whether they have applied for any loans.

A record of a consumer's ability to repay debts and demonstrated responsibility in repaying debts.

A line of credit is the minimum amount of debt a buyer can charge.

Fair Credit Collection Practices Act is one of the Consumer Protection Laws.

Fair Credit Reporting is one of the Consumer Protection Laws.

There were 5 Consumer Protection Laws.

FICO means Fair Isaac Corporation.

APR means Annual Pricing Rate.