Understanding Credit Cards

2. 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.
4. 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
10. A credit card balance is the amount of money owed to the credit card company
11. 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.
14. a period of time over which a loan is scheduled to be repaid.
15. The maximum dollar amount the card issuer is willing to make available to the borrower according to the card member agreement
17. The portion of a document, especially a contract, that contains qualifications or restrictions in small type or obscure language
18. A bill that is not paid by its due date is said to be past due
20. A monthly accounting document sent to you by your bank
21. A business that makes money available for others to borrow.

1. 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
3. This is the agreement between you and your career
5. The amount of money a borrower pays to a lender for the privilege of borrowing money, including interest and other service charges.
6. money, goods, or services you owe to others
7. The amount of interest paid per year divided by the principal amount
8. The charge or fee that is added to a loan or credit card payment when the payment is made after the due date
9. The company or financial institution that gives you a credit card
13. The maximum dollar amount the lender is willing to make available to the borrower according to the agreement between them.
16. A single sum of money that serves as a complete payment.
19. The fee a card issuer charges a credit card holder to use the card for a year