Hey hugh i need help?

Ian Cole
Chapter 26 Vocabulary

1)Credit Beareu-An agency that collects information about you or other credit consumer.

2) Credit Limit-The maximum amount you can spend or charge on a credit card.

3) Cosigner-Someone who signs a piece of paper for you to get a credit card.

4) Down Payment- Portion of the total cost that must be paid up-front.

5) Principal-Amount of money you still owe based on interest

6) Secured Loan-When a loan is backed up by collateral

7) Unsecured Loan-A loan not backed by collateral

8) APR-Percentage rate determines the amount of credit you get on a yearly basis

9)Finance Charge-Total amount of money it costs you to finance a loan

10)Variable Rate-The rate that changes as interest rates in the bank change.

11)Cash Advance- Money you can borrow on a credit card.

11)Grace Period- Amount of time you have to pay off a debt that came from interest charges.

12)Repossess- government taking back your property.

13)Garnishmen

I see a list of 13 terms commonly used in the business of credit contracts. I think your list got cut off. What is your question?

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