Credit Review

Front

The total amount of interest you pay on a loan will be ___________ as the length of the loan increases.

Back

Higher

Front

Pledging something of equal value to the loan you take out that the bank will sell if you don't pay is called

Back

Collateral

Front

A person that agrees to pay your loan if you don't is a

Back

co-signor

Front

Having your debts forgiven by a court is a part of

Back

bankruptcy

Front

Failing to make payments on a car loan will result in your car being

Back

repossession

Front

Longer loan payment lengths will result in ________ monthly payments.

Back

lower

Front

A predatory loan, such as a subprime mortgage, will have ________ interest rates than a normal loan.

Back

higher

Front

Which score is used to evaluate your credit worthiness?

Back

FICO

Front

A loan backed by collateral is called a __________ loan.

Back

secured

Front

An example of open ended credit is: visa card, mortgage, student loan, car loan

Back

visa card