Across
- 3. Original amount of money borrowed, separate from interest or fees
- 6. Percentage Rate, The cost you pay each year to borrow money, including fees, expressed as a percentage
- 7. Payment, A partial payment made in cash at the beginning of the purchase of a good or service, while the remaining balance is due later or is financed as part of a loan
- 8. Debt, Debt tied to a specific tangible asset that can be used as collateral and repossessed if payments are not made
- 10. Period, The number of days between a borrower's statement date and when payment is due, often without accruing interest
- 13. Something valuable that the lender can take as payment if you can't or don't repay your secured loan
- 15. Loan, Loan used to finance a specific purchase for a specific amount of time, during which regular payments pay the accrued interest and a portion of the principal
- 16. Fee, A yearly fee that may be charged for having a specific credit card, independent of how you use the card
- 17. A loan taken by individuals and businesses to make real estate purchases without paying the entire value of the purchase up front
- 18. Card, A plastic card that allows you to make purchases now with borrowed money, which then you must repay to the lender in one lump sum or in monthly payments with interest
- 20. Card, A card that is directly connected to your checking account; it enables you to conduct ATM transactions and to make purchases instead of using cash or writing a check
- 21. Limit, The maximum amount that may be borrowed on a credit card
Down
- 1. Debt, Debt not tied to a specific asset, making it difficult or impossible for the lender to repossess items if payments are not made
- 2. Payment, The smallest amount of a credit card bill that a credit card holder must pay during a billing cycle to remain in good standing with the lender
- 4. Loan, A type of loan issued by a bank, credit union or online lender that you pay back in fixed monthly payments, typically over two to seven years
- 5. The amount you owe as the cost of borrowing money
- 6. The paying off of debt over time in equal installments; part of each payment goes toward the loan principal while the other part goes toward interest
- 9. Loan, A small loan, offered through a business, lent at a high interest rate, and meant to be paid as soon as you receive your next paycheck
- 11. Mortgage, A mortgage in which the initial interest rate is normally fixed for a specified period of time after which it is reset periodically, often every month
- 12. Credit, An open line of credit that can be used for any purchases as long as you are under the limit; its payments vary monthly based on size of the debt
- 13. Someone who legally agrees to take responsibility for a person's debt if they cannot repay it
- 14. Loan, A loan with an interest rate that does not change over the life of the loan
- 19. The amount of time you have to repay your entire loan