| A | B |
|---|
| Alternative credit | A source of credit that may combine elements of open and closed‐end credit and usually have higher interest rates and fees than other forms of credit |
| Closed‐end credit | (also known as installment credit) is a loan which you must repay in a specified number of equal monthly payments |
| Open‐end credit | (also known as revolving credit) is extended as a line of credit established in advance, so you do not have to apply for credit each time credit is desired |
| Pawn loan | A loan based on the value of personal property |
| Payday loan | A short‐term loan that provides immediate cash based upon proof of current employment |
| Tax refund anticipation loan | Short‐term cash advance secured by a taxpayer’s expected tax refund |
| Title loan | The borrower gives the lender his/her automobile title in exchange for a set amount of cash. The lender holds the title until the loan is repaid. If the loan is not repaid as agreed, the lender keeps title to the item. |
| EXTRA | EXTRA |
