money matters vocab

4. a fee representing the cost of credit.
5. a plastic card with a magnetic strip or chip connected to an account that is used to buy goods or services.
8. the yearly interest change applied to outstanding credit card balances.
9. a fee charged when a payment is not received on time
10. a credit reporting agency that checks credit information and keeps files on people who apply for and use credit
11. the cost for borrowing money, expressed as a percentage
13. a fee paid for the use of money overtime.
14. a loan used to purchase a home. the property is used as security

1. the smallest amount a borrower can pay in a billing cycle to keep the account in good standing
2. the once a year fee that some credit cards change
3. a persons or a business that owes money or services
5. a person or a business to whom or to which debt is owed
6. a record of an individual or company's bill paying
7. the failure of a borrower to repay the loan
12. an interest rate that doesn't change