Credit Card Terms

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Across
  1. 3. the fee a card issuer charges a credit card holder to use the card for a year
  2. 6. a period of time over which a loan is scheduled to be repaid
  3. 9. a measurement used to compared different loans; takes into account a loan's interest rate, term, and fees to illustrate the total cost of credit expressed as a yearly rate
  4. 10. the amount of interest paid per year divided by the principal amount (a specific number)
  5. 11. the amount of money paid by a borrower in exchange for the use of the lender's money for a certain period of time; amount owed increasing over time
  6. 13. the charge or fee that is added to a loan or credit card payment when the payment is made after the due date
  7. 15. money, goods, or services you owe to others
  8. 17. a type of credit allowing an individual to borrow up to a certain amount of money, repay the money borrowed with interest when it is due, and then borrow the money again
  9. 20. a business that makes money available for others to borrow
Down
  1. 1. a credit card secured by a savings account
  2. 2. the amount of money a borrower pays to a lender for the privilege of borrowing money, including interest and other service charges
  3. 4. a fee charged by the card issuer when they process-pay a transaction on your behalf that is greater than the amount available within your credit limit
  4. 5. the portion of a document, especially a contract, that contains qualifications or restrictions in small type or obsure language
  5. 7. agreement between you and your card issuer
  6. 8. the one who uses the credit card to make purchases
  7. 12. a bill that is not paid by its due date is said to be ___
  8. 14. a monthly accounting document sent to you by your bank that lists your account balance at the beginning and end of the month, and all of your transactions that your bank has processed during the month
  9. 16. the manixumum dollar amount the lender is willing to make available to the borrower according to the agreement between them
  10. 18. a single sum of money that serves as complete payment
  11. 19. the amount of money owed to the credit card company