Credit Vocabulary

Amount owed on a credit card or loan

• Balance

• Credit

• Interest

• Capacity

the state of legally having been declared unable to pay off debts owed with available income

• Bankruptcy

• Debt

• Credit

• Credit Rights

a measure of financial ability to repay a loan

• Capacity

• Character

• Collateral

• Capital

A measure of your financial responsibility, often based on your credit history

• Capacity

• Character

• Collateral

• Capital

Property put down as security for a loan is known as

• Capacity

• Character

• Collateral

• Capital

An arrangement to receive cash, goods, or services now and pay for them in the future.

• Credit

• Credit history

• Credit report

• Creditor

company that collects information about your credit history and sells it to lenders

• Credit

• Creditor

• Credit Bureau

• Credit cards

To pay for goods /services and at end of month they pay bill

• Credit cards

• Credit history

• Credit report

• Delinquent

a record of your past borrowing and repayments

• Credit history

• Credit Bureau

• Credit report

• Credit score

person or institution to whom money is owed

• Creditor

• Credit

• Balance

• Principal