Credit - Vocab Quiz
star
star
star
star
star
Last updated about 4 years ago
10 questions
Note from the author:
Match the definition with the vocab term it describes.
Match the definition with the vocab term it describes.
1
This is a charge when payment of a debt is not made within the agreed timeframe.
This is a charge when payment of a debt is not made within the agreed timeframe.
1
Legal proceeding that allows a debtor to clear their debts while also allowing creditors to be repaid.
Legal proceeding that allows a debtor to clear their debts while also allowing creditors to be repaid.
1
Portion of credit a cardholder may charge.
Portion of credit a cardholder may charge.
1
Fee charged on an unpaid credit balance
Fee charged on an unpaid credit balance
1
Something valuable that will be surrendered to a lender if credit borrowed is not repaid
Something valuable that will be surrendered to a lender if credit borrowed is not repaid
1
Least amount that must be paid on a credit card balance
Least amount that must be paid on a credit card balance
1
Record of a consumer’s ability to repay debt
Record of a consumer’s ability to repay debt
1
Number that evaluates a consumer's credit risk
Number that evaluates a consumer's credit risk
1
Money, typically cash, borrowed on a credit card
Money, typically cash, borrowed on a credit card
1
Device issued by a bank or company that allows that person to borrow money to pay for goods and services
Device issued by a bank or company that allows that person to borrow money to pay for goods and services