Across
- 4. a borrower's to pay back a loan given income and debt
- 5. public information relevant to financial history
- 6. instead of a set loan amount, you are given a maximum amount you are allowed to borrow
- 7. a list off installment loan and revolving credit you've had in the last seven years to ten years
- 10. report will give social security number address (current and previous) and employment history
- 11. an asset which is used to guarantee the loan will be repaid
- 12. lender reviews borrower's credit history to understand risk of not being repaid
- 13. credit bureaus track any time a lender or other company checks you out
Down
- 1. the rate banks charge their best costumers
- 2. lowest sum of money to be paid each month on the outstanding credit balance
- 3. bank and borrower agree the bank can take ownership of the collateral if the loans is not paid as planned
- 7. interest rate on a loan is expressed as an annual percentage of the principal
- 8. the outstanding debt at any given time
- 9. a number that is an assessment of a person's credit worthiness