counting on credit
financial cooperative that is set up to provide savings and credit services to its members, often within a business or labor union.
credit union
credit account that limits the total amount of money that may be owed and charges interest on the outstanding balance
revolving credit account
source of credit that purchases borrowers contracts from sellers. the borrower then makes payments to that business.
sales finance companies
credit source that offers savings accounts and makes loans, usually for real estate.
saving and loan associations
interest charged on the outstanding balance of a credit account
financial charges
legislation passed in 2009 to ban unfair rate increases and ensure that credit terms are written in "plain language"
CARD act
credit cards that are frequently used by travelers. holders pay an annual fee.
travel and entertainment card
amount of money charged on a yearly basis for the privilege of using certain kinds of credit.
annual percentage rate
credit issued by banks and enable holders to make purchases nationwide. small fee for the banks services.
bank credit card
short term credit often set up for 60 to 90 day periods with payments every 30 days, usually no interest is charged
budget credit account
percentage figure used to calculate charges on loans
interest rates
type of credit account that allows users to buy at any time during a set period. at the end of the term, the user pays the entire amount.
regular credit account