Understanding Credit Cards

2. A single sum of money that serves as a complete payment.
6. The amount of interest paid per year divided by the principal amount
7. money, goods, or services you owe to others
10. The amount of money paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time.
12. A credit card by a savings account.
13. A business that makes money available for others to borrow.
14. A credit card balance is the amount of money owed to the credit card company
16. a period of time over which a loan is scheduled to be repaid.
19. The fee a card issuer charges a credit card holder to use the card for a year
20. A type of credit allowing an individual to borrow up to a certain amount of money, repay the money borrowed with interest when its due.

1. The maximum dollar amount the lender is willing to make available to the borrower according to the agreement between them.
2. The charge or fee that is added to a loan or credit card payment when the payment is made after the due date
3. The amount of money a borrower pays to a lender for the privilege of borrowing money, including interest and other service charges.
4. A monthly accounting document sent to you by your bank
5. A measurement used to compare different loans, the APR takes into account a loan's interest rate, term, and fees to illustrate the total cost of credit expressed as a yearly rate
8. This is the agreement between you and your career
9. The company or financial institution that gives you a credit card
11. The maximum dollar amount the card issuer is willing to make available to the borrower according to the card member agreement
15. A bill that is not paid by its due date is said to be past due
17. A fee charged by the card issuer when they process/pay a transaction on your behalf that is greater than the amount available within your credit limit
18. The portion of a document, especially a contract, that contains qualifications or restrictions in small type or obscure language