Miscellaneous Quiz / Terms to Know when Choosing a Credit Card

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QUIZ: Can you name the Terms to Know when Choosing a Credit Card?

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DescriptionCredit Term
The cost of the loan expressed as a percentage
The length of time you have to pay the loan
The length of time that the lender charges NO interest on borrowed money
Amount that a consumer is charged for paying past the due date
Business that collects credit information about consumers and sells that information to creditors
Credit given to a consumer in advance that can be used for a variety of purposes, ie. a credit card
Amount the consumer must pay for charging more than permitted
The maximum amount of money the lender is willing to loan an applicant
DescriptionCredit Term
The fee a credit card company charges for the use of the card
Low interest rate offered for a short period of time to entice you to sign up for credit
The area on a credit card application that states key facts about the agreement to the consumer
The charge for setting up the loan
One time loan given to a consumer for a specific purpose. i.e. car loan, home loan, school loan
Fair Issac Company is responsible for
The total cost of using credit, including interest and fees

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