Chapter 16 Vocabulary

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Across
  1. 5. A type of card that allow you to make purchases but you must pay the balance in full at the end of the month
  2. 7. An accurate estimation of your wealth
  3. 10. use of someone else’s money to be paid back at a specified time in a specified manner
  4. 11. Generally a loan for a more expensive item such as a car or home
  5. 16. Unlicensed lenders who charge illegally high interest rates
  6. 17. When someone provides a service for which you pay later
  7. 18. A time frame where you may pay your credit card balance in full without incurring any interest charges
Down
  1. 1. A legal lender who loans money at high interest rates based on the value of some property you put up for collateral
  2. 2. The cost of credit expressed as a yearly percentage
  3. 3. The total dollar amount of interest and fees you pay for the use of credit
  4. 4. A company that makes high risk consumer loans
  5. 6. A service offered by a credit card company that allows you to write a check
  6. 8. An established limit of credit than can be used at any interval a customer desires
  7. 9. A person who borrows money from someone else
  8. 12. A service offered to customers that has a billing time that is delayed much later than the standard time frame
  9. 13. A person or business that loans money to others
  10. 14. Using a credit card to get cash
  11. 15. A state law that sets the maximum interest rate for a consumer loan