| A | B |
|---|
| credit | an arrangement to make a purchase now and pay later |
| collateral | something of value used in the event that a payment cannot be made |
| open-end credit | credit that can be increased by continuing to purchase |
| closed-end credit | credit given for a specific amount of money |
| interest | The cost of using someone else's money |
| Equal Credit Opportunity Act | Businesses and consumers are given equal chances to obtain credit |
| Fair Credit Reporting Act | Allows for consumers to view their credit reports |
| Fair Credit Billing Act | Provides for consumers when an error is made in bills sent by credit card companies |
| Fair Debt Collection Practices Act | Makes it illegal for debt collectors to threaten consumers with violence, etc. |
