
Credit Card Terms
Presentation
•
Other
•
9th - 12th Grade
•
Hard
David Tien
Used 6+ times
FREE Resource
51 Slides • 0 Questions
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Credit Card Terms
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charge
the amount of money spent on a purchase
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credit limit
The maximum amount of money you can owe on your credit card
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minimum payment
the least amount of money you can pay on your current credit card bill
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balance
The amount of money you owe to the credit card company
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interest
the cost of borrowing money from the credit card company
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1.) The ____________ _________ on Mrs. Kramer's Credit Card bill was $35.00.
FILL IN THE MISSING TERM
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2.) Mrs. Kramer made $3000 in purchases. The _______________ on her bill came to over $240.
FILL IN THE MISSING WORD
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3.) After Christmas shopping, the new _____________ on Mrs. Kramer's credit card bill was $4300.
FILL IN THE MISSING WORD
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4.) Mrs. Kramer bought gas at Kwik Shop. The ____________ came to $18.25.
FILL IN THE MISSING TERM
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5.) Mr. Kramer doesn't want Mrs. Kramer spending too much money so he had the _____________ _____________ on her credit card set to $2000.00.
FILL IN THE MISSING TERM
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Creditor
Also known as the lender, the person or institution to whom money is owed
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Credit Bureau
A company that collects information about your credit history and sells it to lenders.
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Credit History
A record of your past borrowing and repayments.
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Credit Report
A detailed record of an individuals credit history and credit score
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Credit Score
A number that indicates how good of a credit risk you are - the highter the score, the better.
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6.) Mrs. Bale's _________ _________ shows that she is an excellent credit risk.
FILL IN THE MISSING TERM
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7.) Equifax is one of the top _________ __________ in the country. They provide information to millions of lenders.
FILL IN THE MISSING TERM
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8.) Mrs. Bale's __________ ________ shows that she has a credit score of 750 and has always repaid her loans on time.
FILL IN THE MISSING TERM
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9.) The __________ __________ of Mrs. Bales shows that she has taken out 5 loans over the past 10 years and has always paid them back regularly.
FILL IN THE MISSING TERM
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10.) The _________ who owns my credit card is Union Bank.
FILL IN THE MISSING TERM
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bankruptcy
The state of legally being declared unable to pay your debts with your available income
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financial capacity
the measure of your financial ability to repay a loan
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financial character
a measure of your financial responsibility - often based on your credit history
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asset
anything you own that adds financial value - something that has worth
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collateral
property or assets put down as security on a loan
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11.) Mr. Redmond's _______ ________ shows lenders that he is responsible with his money
FILL IN THE MISSING TERM
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12.) Mr. Redmond offered his 1956 Fender guitar as ___________ on the loan he was applying for from the bank.
FILL IN THE MISSING TERM
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13.) Mr. Redmond has a lot of money and other assets, so his ____________ ___________ is high.
FILL IN THE MISSING TERM
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14.) Among his ________, Mr. Redmond owns two houses, three cars, and a colleciton of vintage guitars.
FILL IN THE MISSING TERM
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15.) After several bad financial setbacks, Mr Tien had to declare ____________ because he just couldn't pay his bills.
FILL IN THE MISSING TERM
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annual fee
a set amount of money a credit card company charges for having a credit card
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late fee
a penalty fee that a credit card charges for payments made after the due date
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due date
the date by which your credit card payment must be paid
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grace period
a set length of time after the due date when a payment can be made without penalty.
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delinquent
a situation where a borrower is late or overdue on a payment
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16.) Mr. Kantor hadn't paid his credit card bill in three months so the credit card company said his account was ______________.
FILL IN THE MISSING TERM
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17.) Mr. Kantor's bill was due on th 15th. When he paid it on the 20th, the credit card company charged him a $20 ____ ___.
FILL IN THE MISSING TERM
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18.) Mr. Tien's credit card company offers a 10-day ______ ______, so even though he didn't pay his bill on time, he didn't have to pay a penalty.
FILL IN THE MISSING TERM
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19.) Mr. Kantor's credit card company charges an _______ ___ of $50.00 just for using their credit card.
FILL IN THE MISSING TERM
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20.) Mr. Kantor's credit card ___ ____ is the 15h of each month. This is difficult for him because he doesn't get paid until the end of each month.
FILL IN THE MISSING TERM
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EMV chip
an electronic computer chip that stores your credit card information. It's more secure than the old magnetic strip that was used
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free loader
What the credit card company calls someone who pays off their balance in full every month and so never pays any interest
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introductory rate
an annual percentage rate - usually lower - offered for the first year or a short term to get you to take out a credit card
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balance transfer
moving your balance from one credit card to another, usually with a lower rate.
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Schumer Box
A summary that lists all the costs of a credit card
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My new credit card had a much lower interest rate than my old card, so I did a _______ ________ and moved the $3000 I owed to the new card.
FILL IN THE MISSING TERM
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My new credit card has a zero percent ____________ ____ for the first six months.
FILL IN THE MISSING TERM
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Mrs. Stopp always pays her full balance each month on her credit card. The credit card company calls her a ____ ______.
FILL IN THE MISSING TERM
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The card reader at the gas station wasn't working, so instead of using my ___ ____, I had to "swipe" my credit card.
FILL IN THE MISSING TERM
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The _______ ___ on my credit card application let me know the APR, the late fee, and the annual fee on my new credit card. It gave me a lot of good information.
FILL IN THE MISSING TERM
Credit Card Terms
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