| A | B |
|---|
| credit | arrangement to receive cash, goods, or services now and pay for them in the future |
| consumer credit | use of credit for personal needs |
| creditor | an entity that lends money |
| closed-end credit | a one-time loan that you will pay back over a specified period of time |
| open-end credit | is a loan with certain limit on the amount of money you can borrow |
| line of credit | the maximum amount of money a creditor will allow a credit user to borrow |
| grace period | a time period during which no finance charges will be added to your account |
| finance charge | total dollar amount you pay to use credit |
