Credit &Debt

______________________ is a legal process in which a person is declared incapable of paying debts to his creditors.

______________________ is the ability of a person to use money they do not have, or, an arrangement to receive cash, goods, or services now and pay for them in the future.

______________________ a file maintained by credit reporting agencies evaluating a person's performance as a result of paying their bills.

______________________ an investment product that brings together money from many people to be invested and managed by a professional company.

______________________ the habit of investing the same dollar amount in the same investment at regular intervals of time.

______________________ a temporary interest rate, advertised as a low APR, to entice customers to apply for a credit card. After the introductory period, the interest rate will increase to the regular APR.

______________________ is the range of FICO scores.

A card (usually plastic) that automatically withdraws money from the account of the holder, enabling that person to purchase goods or services.

A card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered.

A higher interest rate a person must pay on all credit cards if he/she is late paying one card.