Credit Vocab

3. A "C" of credit (From the 5 C's)
8. A record of how a person has handled money and debt, including credit card accounts and other loans.
9. A person who promises to pay the debt of another person
13. Sum of money lent or invested on which interest is paid
14. A loan backed by collateral
15. A thing that is borrowed
17. An example of a use of credit
19. One time loan usually paid off in equal payments
20. A security pledged for the repayment of a loan

1. A rate that changes over time
2. Amount of time to pay back a loan
4. When a bank or other financial institution lends an individual money and trusts they will pay it back
5. A rate that does not change
6. A loan that doesn't require any collateral
7. The word credit comes from the Latin word
10. Credit that allows the user to borrow money here and there, up to a certain limit and pay off portions or minimums as you go or all of it
11. A three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time.
12. A person who owes money
16. Persons or institutions to whom money is owed
18. Percentage rate a bank or other lender charges to borrow its money