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Question 0

Debtor

Answer 0

Organization or person who uses credit

Question 1

Creditor

Answer 1

Organization or person that extends credit to debtors

Question 2

Asset

Answer 2

A person’s property or what is owned

Question 3

Down payment

Answer 3

The upfront money applied to a purchase using a loan

Question 4

Finance charge

Answer 4

The interest that is charged to a buyer when paying for a purchase overtime

Question 5

Interest

Answer 5

The finance fee that is charged to an installment buyer when paying for s purchase over time

Question 6

Installment

Answer 6

A method of a payment for a purchase or services over time

Question 7

Deferred payment plan

Answer 7

Money that is given or received at a later date usually in return for services

Question 8

Credit reporting agency

Answer 8

Organizations that compile records on users of credit on how well they pay debt

Question 9

FICO score

Answer 9

A score that denotes the probability of a debtor paying off a debt, a way that creditors deem worthiness

Question 10

Credit rating

Answer 10

A credit report that shows how well a person meets their credit obligations, used by creditors