Types of Credit Crossword

1. Someone who legally agrees to take responsibility for a person's debt if they cannot repay it
4. A loan in which the interest rate can change, based on prime rate or index rate, over the course of the loan
6. Debt not tied to a specific asset, making it difficult or impossible for the lender to repossess items if payments are not made
9. A yearly fee that may be charged for having a specific credit card, independent of how you use the card
13. The maximum amount that may be borrowed on a credit card
14. A standard table that legally must appear in a credit card agreement showing basic information about the card's rates and fees
15. The amount you owe as the cost of borrowing money
16. A legal document that outlines the terms and conditions for using your credit card

1. Something valuable that the lender can take as payment if you can't or don't repay your secured loan
2. An open line of credit that can be used for any purchases as long as you are under the limit; its payments vary monthly based on size of the debt
3. The smallest amount of a credit card bill that a credit card holder must pay during a billing cycle to remain in good standing with the lender
5. A type of credit card that requires the borrower to pay the company a fixed, up-front amount of money as collateral, which becomes the credit limit of the card, thereby making it low-risk to the credit card company
7. A credit card service that allows cardholders to withdraw a certain amount of cash, either through an ATM or directly from a bank, typically at a high interest rate or for a fee
8. The amount of time you have to repay your entire loan
10. A person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill
11. A monthly record of your account transactions provided by your credit card company electronically or on paper
12. Original amount of money borrowed, separate from interest or fees