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White Portfolio

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FC: Credit Vocabulary

1: Miles Hermanson Period 2

3: Annual Percentage Rate | Yearly cost of a mortgage.

5: Bankruptcy | Debt payments exceed ability to pay them.

7: Don't think: Look! -Ludwig Wittgenstein | Closed-End Credit | Credit repaid in full by a specific date.

9: Collateral | Assets pledged by a borrower to secure a loan.

11: Contract | Agreement for performing or restraining specific acts.

13: Individual who signs a note and assumes equal liability. | Cosigner

15: Contract agreement to repay the lender at a later date. | Credit

17: Credit Card | Card used repeatedly to borrow money.

19: Person or organization that extends credit to others. | Creditor

21: Detailed information on someones credit history. | Credit Report

23: Status given to a borrower who has an acceptable credit rating. | Creditworthy

25: Legal process where owner loses property. | Foreclosure

27: Agreement by bank to lend a specific amount of money to a borrower then allowing it to be borrowed again after it is repaid. | Open-end credit

29: Shop of a pawn broker. | Pawnshop

31: Amount of money borrowed. | Principal

33: Paying monthly rent with an option to eventually own it. | Rent-to-own

35: Taking back property by a lender or seller. | Repossession

37: Loan backed by assets that belong to the borrower to decrease risks of lender. | Secured Loan

39: Loan where car title is collateral. | Title Loan

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  • By: Miles H.
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  • Title: White Portfolio
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  • Published: over 5 years ago