Debt Terms

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What is an annual fee?

Back

A yearly fee charged by the credit card company for the convenience of the credit card.

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What does APR stand for?

Back

Annual Percentage Rate

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Who is a consumer?

Back

A person or organization that uses a product or service.

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What is credit?

Back

The granting of a loan and the creation of debt

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What is a credit card?

Back

A type of card issued by a bank that allows users to finance a purchase.

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What is a credit report?

Back

A detailed report of an individual's credit history.

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What does a credit score measure?

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An individual's credit risk

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What is debt?

Back

An obligation of repayment owed by one party to another

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What is the debt snowball method?

Back

A method of debt repayment that organizes debts from smallest to largest.

Front

What is depreciation?

Back

A decrease or loss in value.