www.creditcardcritic.com/advice/glossary.htm

Annual Fee: A fee charged to the cardholder by the card issuer

Finance Charge: Amount of interest charged on the account for a particular billing cycle

Minimum Payment: The smallest amount of money that must be paid by the cardholder for the billing cycle

Balance Transfer: Moving a balance from one credit card to another

Moving a balance from one credit card to another

Billing Cycle: The days between the last statement and the current statement

APR: Annual percentage rate of the finance charge

Grace Period: Time period during which a cardholder may pay off his or her balance without incurring a finance charge

Late Payment Fee: Fee charged to a cardholders for being delinquent with their payments

Basic/Classic Card: Usually comes with a low credit limit

Gold Card: Offers more benefits and a higher credit limit than a basic/classic card

Platinum Card: Typically issued to people with higher incomes

Rebate Cards: Cardholder earns points or money which may be applied later in the purchase of certain goods and services

The time allowed to pay your balance without being charged a finance charge is the ______

A. Billing Cycle B. Grace Period C. Balance Transfer D. Minimum Payment

The smallest amount of the balance a cardholder is required to pay is called the _____

A. Minimum Payment B. Balance Transfer C. Grace Period D. Billing Cycle

A fee charged to a cardholder’s account once a payment is overdue is called _____

A. Annual Fee B. Cash Advance C. Finance Charge D. Late Payment Fee

What is the fee charged by the card issuer for being a card holder?

A. Annual Fee B. Cash Advance Fee C. Finance Charge D. Late Payment Fee

The act of moving whole or a partial balance of a card to another credit card is called _____.

A. Cash Advance B. Finance Charge C. Annual Fee D. Balance Transfer

When lenders look at your total income and total debt are looking at your _____.

A. Minimum Monthly Payment

B. Finance Charge C. Debt to Income Ratio D. Late Payment Fee

The days between the last statement and the current statement cycles is called ____.

A. Billing Cycle B. Grace Period C. Balance Transfer D. Minimum Payment

www.bankruptcyaction.com(Bankruptcy information)www.myvesta.org (debt, credit cards, morgages, etc)

www.eqmoney.com (Credit Score)

Financial experts state people should not spend more than 20% of their net income (after taxes) on short-term credit purchases

1. What is bankruptcy? 2. What are two forms of bankruptcy?

3. Are there any major disadvantages to the consumer in filing bankruptcy?

4. Are there any alternatives to bankruptcy if you get above your head in credit?