Debit and Credit Quiz

Debt

• Money owed

• a web-only bank

• An electronic way to view account activity and pay bills via the Internet and an institution's website.

• A card that looks like a credit card but operates like cash; money is immediately subtracted from the cardholder's bank account when a purchase is made.

Credit Limit

• The maximum a cardholder can borrow. It is recommended that cardholders keep a balance of no more than 25 percent of the credit limit.

• A record of a person's financial information, including previous addresses, Social Security number, current and previous employers, estimated income, credit card accounts with amount owed and payment history, and loan information.

• Annual percentage rate; the annual rate of interest that is charged for using credit

• Amount still owed from purchases prior to the current 30-day charge cycle.

Cash

• A yearly fee that's charged by the credit card company for the convenience of the credit card

• Money in the form of bills or coins

• A standardized measurement of the potential to repay a debt.

• An electronic way to view account activity and pay bills via the Internet and an institution's website.

Debit card

• The cost of credit-the fees and interest charged to finance the unpaid balance.

• An amount deducted from a bank account.

• A loan to purchase a home or other real estate

• A card that looks like a credit card but operates like cash; money is immediately subtracted from the cardholder's bank account when a purchase is made.

Credit Score

• A standardized measurement of the potential to repay a debt.

• An amount deducted from a bank account.

• Money owed

• A loan to purchase a home or other real estate

Credit Report

• A record of a person's financial information, including previous addresses, Social Security number, current and previous employers, estimated income, credit card accounts with amount owed and payment history, and loan information.

• Money owed

• The smallest amount that can be paid to meet the loan requirements, typically associated with Credit Cards.

• An amount deducted from a bank account.

Credit

• The amount of financial trust extended to a person or a business by a lender; a loan.

• A sum paid or charged for the use of money or for borrowing money

• A Web-only bank

• The cost of credit-the fees and interest charged to finance the unpaid balance.

Credit Card

• A card authorizing the holder to buy goods and services that can be paid for later.

• A wireless service that allows financial transactions by using an app or Web browser from a mobile device.

• Annual percentage rate; the annual rate of interest that is charged for using credit

• A written order for a bank to pay money

Bankruptcy

• a legal status of a person or other entity that cannot repay debts to creditors.

• Money in the form of bills or coins

• A not-for-profit cooperative that offers bank services and is owned by its members.

• A record of a person's financial information, including previous addresses, Social Security number, current and previous employers, estimated income, credit card accounts with amount owed and payment history, and loan information.

Debit

• A card authorizing the holder to buy goods and services that can be paid for later.

• A yearly fee that's charged by the credit card company for the convenience of the credit card

• An amount deducted from a bank account.

• Amount still owed from purchases prior to the current 30-day charge cycle.