Studied by 3 people
Pawnshop loan
A(n) ________ is based on the value of something you own that is left with a pawnbroker as security against money borrowed.
Consumer finance companies
________ specialize in loans to people who might not be able to get credit elsewhere.
Debtor
A(n) ________ borrows money or uses credit.
real estate
It is used to purchase ________, such as a home.
Interest rates
________ vary from one provider to the next.
Credit
________ is an agreement to obtain money, goods, or services now in exchange for a promise to pay in the future.
Financial institutions
________ such as banks, savings and loans, and credit unions offer many types of loans.
Payday advance services
________ offer short- term loans until payday.
personal reasons
The type of credit used by people for ________ is called consumer credit.
single purpose
There are three basic types of credit cards: ________, multipurpose, and travel and entertainment.
Creditors
________ charge a fee for using their money, which is called interest.
Credit
________ used by businesses is called commercial credit.
There are three basic types of credit cards
single-purpose, multipurpose, and travel and entertainment
Note 
Flashcard (30)