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Credit - Chapter 27 Flashcards | StudBud
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Credit - Chapter 27
Assets
Collateral
Credit - Chapter 27
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Vocabulary Words for Chapter 27 - Credit
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
Collateral
I really don't know
something of value held by a lending institution
Known as money
interest charged and the repayment terms
2
Assets
Money and more Money
Money - Debts
Valuable possessions a person owns
I wish I knew
3
Credit Rating
estimate of how likely a person will pay bills on time
I don't know
determined by the place that will give you a credit card
written contract legally binding you
4
Credit Line
spending more than you can afford
maximum amount that can be charged
valuable possessions
I wish I had studied
5
Credit Agreement
non-legal contract
a contract that really can't be enforced
written contract legally binding a lender and creditor
6
Credit Bureau
businesses that give credit
again, I should have studied
an organization that gathers financial information on people
businesses that decided whether you get the loan or not
7
Identity Theft
theft occurs when someone uses your personal information
someone steals your money
someone steals your wallet
8
Cosigner
Place or person you pay money owed
mother or Father only
signs a loan with the borrower
I am not prepared for success
