W!SE FINANCIAL LITERACY Topics E

Post date: Dec 03, 2013 1:35:46 PM

Define the Following Terms.

1. Define Closed-end credit & examples

2. Collateralized loan

3. Revolving Line of Credit

4. unsecured loan & give example

5. Define the 3 or 4 C's of Credit " Character, Capacity, Collateral.

6. Credit

7. Credit card cash advances

8. Truth in Lending Act

9. Consequence of paying the minimum payment due on a credit card bill or paying a bill late

10. How does the degree of risk influence the interest rate charged for credit

11. Debit to Credit Ratio

12. Credit Reports

13. Consequence of a lost or stolen credit card

14. The length of debt repayment and impact on cost