| A | B |
|---|
| CREDIT CARD | A CARD THAT ALLOWS YOU TO BUY ITEMS NOW AND PAY FOR THEM LATER |
| FINANCE CHARGE | A FEE YOU PAY EACH MONTH FOR BORROWING |
| AVAILABLE CREDIT | THE DIFFERENCE BETWEEN THE CREDIT LIMIT AND THE BALANCE |
| BALANCE | THE TOTAL AMOUNT OF MONEY YOU OWE ON YOUR ACCOUNT |
| MINIMUM PAYMENT | THE LEAST AMOUNT OF YOUR BALANCE THAT YOU MUST PAY TO THE CREDIT CARD COMPANY EACH MONTH |
| CREDIT LIMIT | THE MOST MONEY YOU CAN BORROW ON A CREDIT CARD |
| CASH ADVANCE | THE CASH BORROWED FROM A CREDIT CARD ACCOUNT |
| CREDIT | THE AMOUNT OF A RETURN OR PAYMENT ON A MONTHLY STATEMENT |
| FICO | THE NAME OF THE NUMERICAL CREDIT RATING THAT LENDERS USE |
| 3 MAJOR CREDIT BUREAUS | EQUIAFAX, TRANSUNION, EXPERIAN |
| BALANCE TRANSFER | TO MOVE BALANCE FROM ONE CREDIT CARD TO ANOTHER |
| APR | THE TOTAL ANNUAL PERCENTAGE AMOUNT THAT IT WILL COST SOMEONE TO BORROW ON CREDIT |
| FICO 5 | PAYMENT HISTORY, AMOUNT OWED, NEW CREDIT, MIX OF ACCOUNTS, AGE OF CREDIT HISTORY, |
| CREDIT BUREAU | A COMPANY THAT COLLECTS INFORMATION ABOUT YOUR CREDIT HISTORY AND SELLS IT TO LENDERS |
| COSIGNER | AGREEING TO BE RESPONSIBLE FOR LOAN PAYMENTS IF THE BORROWER FAILS TO MAKE THEM |
| THE 3 C's of CREDIT | CAPACITY, CAPITAL, CHARACTER |
