Shared Flashcard Set

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FACS quiz
facs quiz
20
Other
7th Grade
11/02/2009

Additional Other Flashcards

 


 

Cards

Term
Annual Percentage Rate
Definition
How much you have to pay every year for your credit card
Term
Credit Limit
Definition
The maximum amount of money that you may borrow from your credit card
Term
Minimum Payment Due
Definition
The lowest amount of money you must pay each month
Term
Finance Charge
Definition
Interest or fee for borrowing money
Term
Grace Period
Definition
The period in which where you can buy purchases without interest
Term
New Balance
Definition
Everything totaled up on your bill
Term
Previous Balance
Definition
Any amount owed from previous months
Term
Due Date
Definition
The date on which your credit card must be paid
Term
Key words for annual percentage rate
Definition
-rate
-pay
-annual
Term
Key words for credit limit
Definition
-stop
-no more bullying
-think
Term
Key words for Minimum Payment Due
Definition
-expensive bills
-small amount
-bad
Term
Key words for Finance charge
Definition
-interest
-fee charge
-borrowing money
Term
Grace period key words
Definition
-without
-sale
-interest
Term
New balance key words
Definition
-added together
-after
-unpayed
Term
Previous balance key words
Definition
-balance
-cash
-first
Term
key words for due date
Definition
-date
-when it's due
-fee
Term
credit card PROS
Definition
-Enjoy before paying
-If credit card is stolen, you don't have to pay for it
-You don't have to carry cash
-Large credit line
-Used world-wide
Term
Cons Credit card
Definition
-It is an I.O.U
-Get a bill after 1 month
-Easily get you into debt
-High interest rate
-Change fees for using ATM's
Term
Debit card PROS
Definition
-Don't have to carry cash
-Easy to carry
-Don't pay bill
-Convenient to use
-Use it almost anywhere
Term
Debit card CONS
Definition
-Some places don't allow credit cards
-Can over-draw your account
-fraud
-limit on card
-Charge fees for using ATM's
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