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32 Cards in this Set
- Front
- Back
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Open Accounts Credit |
A form of Credit extended to a consumer in advance of any transaction type of credit that accompanies charge accounts and charge cards
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Line Of Credit |
The maximum amount of credit a customer is allowed to have outstanding at one time
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Cash advances |
A loan that can be obtained by a bank credit card holder |
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Balance Transfer |
A program that enables cardholder to readily transfer credit balances from one card to another |
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Affinity Card |
"Card with a cause". Standard bank credit card that is in conjuction with some charitable, political or other sponsoring non-profit organization |
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Unsecured Personal Credit |
A line of credit made to an individual on an as-needed basis |
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Home equity credit line |
A line of credit issued against the existing equity on a home |
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Equal Credit Oppurtunity Act |
The prohibition of credit discrimination based on sex, marital status,race religion or national origin |
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Consumer Credit Reporting reform act |
The full and active disclosure of credit information. |
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Fair Credit Billing Act |
The establishment of acceptable bulling procedures |
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Consumer Credit Protection Act |
The full and accurate disclosure of all finance charges |
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Fair Debt collection Practice act |
Protection against collector harassment |
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Investing |
Long-term activity and viewed as a process of purchasing securities such as stocks or bonds |
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Bull Market |
A condition in market nornamlly associated with investor optimism
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Bear Market |
A condition in the market associated with pessimism |
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Speculating |
A form of investing in which future value and expected returns are highly incertain |
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Asset Allocation |
The decision on how to divide your portfolio among different types of securities.
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Dollar Cost Average |
Systematic Investing of equal sums of money at regular intervals regardless of price fluctuations to an investments. |
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Stock Split |
Division of a corporations outstanding shared into a large number of shares |
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Capital Gains |
Income that results from an increase in the value if an investment |
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Stockbrokers |
account executives that buy and sell securities for their customers |
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Business risk |
The degree of uncertainty associatied with a firm's earning and subsequent ability to pay interest and dividends.` |
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Market risk |
A type of investment risk associated with the price volatility of a security. |
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Interest rate risk |
A type of risk, resulting from change market interest rates. Changes in interest rates are the result of fluctuations in the supply of or demand for money |
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Current income |
Received as a regularity over the course of year in the form of dividends on stock, interest from bonds or rents from rental property. |
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Portfolio |
A collection of securities assembled for the purpose of meeting common investment goals |
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Consumer loans |
Formal negotiated contracts that specify both the terms for borrowing and repayment schedule. |
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Lien |
A legal Claim that permits lenders to liquidate the collateral to satisfy the loan in the event the borrower defaults. |
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Simple Interest |
Most popular method where interest is charges only to the outstanding balance of the loan |
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Add-on Loans |
Finance charges are calculated using the original balance of the loan which is added on to the original balance. |
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5 C's Of credit |
1.Credit Record/Character-integrity 2.Capacity to repay-income 3. Collateral-Value to secure loans 4. Capital- assests 5. Conditions-economy |
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Straight Bankruptcy |
Most of a debtors obligations are eliminated in an attempt to put the debtor's financial affairs in order. (70%) |
