| A | B |
|---|
| Guarantee and warranty | These are both legal contracts |
| Why get it in writing | spoken warranties are hard to enforce |
| Rebate cards | cardholders get rewards for using card |
| affinity card | card with team, college or charity and can give a % to them |
| Limited Time Frame | HOw long warranties are usually in effect |
| Unsecured loan | Given to people with EXCELLENT |
| Installment loan | used for large purchases where the same monthly payment is made over a period of time |
| Fair Credit Reporting Act | Says that consumers have the right to check their credit history and correct errors |
| Implied warranties | A warranty in which a salesperson says a product will do something or the product should do what it is supposed to |
| Food Drug and Cosmetic Act | Says food should be pure and wholesome |
| Contact Retailer | 1st step when you have a problem with a product |
| Retail Store Card | AKA proprietary card |
| Lemon Law | Used for cars that have repeated problems in the 1st year |
| FDA | This agency monitors cosmetics and medical devices as well |
| The store or retailer | Who pays the service fee for customer's purchases to the credit card company or bank |
| extended product features | things like service, delivery, repair |
| warranty | aka guarantee |
| Implied | The type of warranty that exists automatically by law when there is no written |
| Equal Credit Opportunity Act | Says creditors cannot discriminate on the basis of age, religion, gender, etc. |
| Possession | The type of utility that credit adds to a product |
| Budget accounts | A type of account that allows for payments of an item with no finance charge if paid in a certain time |
| deductible | amount that a customer must pay first |
| collateral | item pledged as security for a loan |
| arbitration | 3rd party settles disagreements |
| credit | arrangement in which you buy now pay later |
| a promise that a product will meet certain standards | warranty |
| negligence | failure to take reasonable care |
| full warranty | says that a product will be replaced at the SELLER"S expense |
| disclaimer | exclusions in a warranty |
| Express warranty | a distinctly stated promise |
