Across
- 5. Tap your savings and other personal assets to fund your business yourself.
- 7. A customer who does not pay his/her balance in full each month and carries a balance that incurs interest charges.
- 13. An online service that manages the transfer of funds from a customer to the merchant of an e-commerce website.
- 15. settlement costs and fees you pay the lender in exchange for finalizing your loan.
- 18. Enable individuals to prepare for future success in the workplace.
- 19. A document sent within a company (internal), presented in short form
- 21. Take equity in your business in exchange for financing. Venture capitalists pool money from many investors.
- 22. The amount of time between the last statement closing date and the next. This must be at least 21 days.
- 23. Communication among lending institutions means that a late payment on any debt (e.g., mortgage, car loan, credit card bill) may lead to a consumer being declared in “universal default” which can lead to an increase in fees and interest on all outstanding debts.
- 25. Represents banks of all sizes on issues of national importance for financial institutions and their customers.
- 26. Responsible for overseeing national and federal financial organizations to make sure they are operating safely and fairly. This includes credit card policies. The OCC is an agency of the United States Department of the Treasury.
Down
- 1. A monthly credit card fee that a consumer may be charged if the balance on the card is so low that charging interest would be less than imposing a minimum “set” fee.
- 2. High net-worth individuals who get an equity stake in return for their financing. They expect to make a profit.
- 3. The hardware, software, and financial services needed for a business to accept and process credit cards and debit cards.
- 4. Friends or family can provide loans. This could negatively impact relationships if money is lost, or the business fails.
- 6. A slang term used to describe a customer who avoids interest and fees by paying his/her account balance in full each month rather than paying the minimum amount and carrying a balance.
- 8. The maximum amount of money that can be charged to a credit card (also known as a line of credit, credit line or spending limit).
- 9. The amount of credit you are using compared to the amount of credit you have available.
- 10. Used to help businesses raise money to launch a specific product by using social media. Can be time consuming and requires putting information on the site.
- 11. A number that represents how well or badly you manage your credit.
- 12. Charges that merchants (business) pay to process customer payments made with a credit card. Sometimes referred to as a “swipe fee.”
- 14. The ability to borrow money; an agreement made between two parties where something is borrowed with a promise to pay back.
- 16. A legal proceeding that relieves you of the responsibility of paying debts or provides you with protection while attempting to repay your debts.
- 17. Involves the digitalization of all traditional banking products, processes, and activities to service customers using online channels.
- 20. Card issuers may penalize you with a higher interest rate when you pay late.
- 24. Detailed goals to help aid in the path to accomplishment.