Credit Vocab

Credit Vocab

1. Creditworthiness

2. Credit bureau

3. Secured loan

4. Unsecured loan

5. Collateral

6. Installment loan (closed ended credit)

7. Revolving Credit (open ended credit)

8. Unsecured loan

9. Grace period

10. Credit limit

11. Annual percentage rate (APR)

12. Acceleration clause

13. Balloon payment

14. Bankruptcy

15. Debt consolidation Loan