Types of Credit

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Across
  1. 5. A legal agreement to receive cash, goods, or services now and pay for them in the future
  2. 6. A loan in which the amount of payment and the number of payments are predetermined
  3. 7. Plastic cards with __________ information that can be used by the holder to make purchases or obtain cash advances us
  4. 9. A type of credit that does NOT have a fixed number of payments
  5. 11. Loans that allow a person to finance their education and defer payments until after graduation
Down
  1. 1. A form of security to help guarantee that a creditor will be repaid
  2. 2. Cards that look similar to credit cards but that take money out of your checking account
  3. 3. The person who agrees to be responsible for loan payments if the borrower fails to make them
  4. 4. A member's earned service, prior service and purchased service
  5. 5. Works like a credit card but you must pay it off completely every month
  6. 8. Had an average credit card debt of $5,688 in 2019
  7. 10. The __________ average credit card balance in 2019 was $6,194