Credit - Key Terms

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Across
  1. 2. Amount of money owed on a credit card or loan
  2. 4. Amount of money paid in advance; reduces loan payments
  3. 5. Amount of money charged to an individual, often as a penalty
  4. 7. The rate per year charged for borrowing or made by investing; expressed by a single number
  5. 9. A secured loan on real estate
  6. 11. Numerical analysis of a person's creditworthiness
  7. 12. Taking possession of collateral to pay for a loan
  8. 13. Maximum amount that can be borrowed on a single card
  9. 14. Selling assets to get money to help pay for a loan
  10. 15. Total money that an individual owes
  11. 16. Money granted to be paid back, often with interest
Down
  1. 1. Something that is pledged as security for loan repayment
  2. 3. Institution that keeps financial accounts, makes loans, and issues credit cards
  3. 4. When someone breaks their credit card agreement terms
  4. 6. When a person or business is unable to pay off outstanding loans
  5. 8. Used for making purchases with revolving credit
  6. 10. Spending more money than can be afforded and/or budgeted