| A | B |
|---|
| Collateral | Property required by a lender and offered by a borrower as a guarantee of payment. |
| Credit | The ability of a consumer to obtain goods or services before payment. |
| Credit Card Act of 2009 | This act provided new credit card rules and amended previous acts |
| Credit Card | Cards that represent an agreement between a lender—the issuing institution |
| Fair Credit and Charge Card Disclosure Act | mandates a box on credit card applications describing key features and costs |
| Fair Credit Billing Act | It requires prompt credit for payments made. |
| Incentives | Perceived benefits that encourage certain behaviors. |
| Interest | The price of using someone else’s money; the price of borrowing money. |
| Truth in Lending Act | protects you against unauthorized use of your credit card |
| Unsecured Loan | Loan that is not backed with collateral. |
