| A | B |
|---|
| Balanced Due | The total amount that remains due on a loan, including both principal and interest |
| Creditor | One who lends money for payment at a later date |
| Credit | Paying at a future date for the present use of goods and services or money |
| Line of Credit | A pre-established amount that can be borrowed on demand |
| Open-ended credit | Credit where by you can add purchases up to a set credit limit |
| Closed-end | The loan for a specific amount that must be repaid in full, including finance charges, by a stated due date |
| Cash Advance | Money borrowed against a credit card limit |
| Finance Charge | The interest you pay for the use of credit |
| Pawnbroker | A legal business where loans are made based on the value of merchandise used as collateral |
| Collateral | Something of value that can be sold to pay a debt |
| Character | A responsible attitude toward paying bills and meeting obligations on time |
| Credit History | Answer questions about how you have paid your bills, howmany bills you have had and what type, how much total credit you have been given, and how much credit appears to be outstanding |
| Credit Report | A credit bureau issues a written statement that itemizes accumulated information about a person through subscribers and public records |
| Capacity | The ability to repay a loan or make payments on a debt with your current income |
| Conditions | Existing debts, stability of employment, and personal factors that determine a perons's ability to meet financial obligations |
| Credit Bureau | A business that accumulates, stores, and distributes credit information to members |
| Excellent | A type of rating earned when you pay your bills before the due date |
| Good | A credit rating earned when you pay your bills on the due date or within a short grace period |
| Poor | A credit rating likely to result in denail of new credit |
| Fair | A credit rating given to a person who pays during the grace period, but occasionally takes longer |
