Flashcards in Credit Cards & Loans Deck (10):
A loan backed up by collateral is known as
The time period between the billing date and the due date on the credit card account
Open-ended credit is also known as
If you pay off a loan early and get charged a fee
Cash advances usually have higher interest rates and interest accrues immediately. True or False
What kind of interest rate is artificially low and lasts for a limited amount of time?
What is gap insurance?
Pays off the remainder of the loan if the insurance payment is insufficient to do so.
Define cooling-off rule and when it applies?
3 days to cancel a contract of $25 or more after signing it anywhere other than a seller's normal place of business.
Do virtually all products sold by merchants have implied warranties?