Matching Pairs Types of Credit Matching GameOnline version Match the type of credit with it's definition. This activity is for high school students. by Arizona Bar Foundation 1 Personal Loans from a Bank (car/mortgage) 2 Payday Loans/Cash Advances 3 Student Loans (college) 4 Credit Card 5 Informal Loans 6 Charge Account A lender provides a specific line of credit to be used for purchases anywhere the credit card is accepted (such as Visa). You agree to pay a minimum monthly amount of money owed, annual fee and interest fee for using the credit. Borrowing money from family members, friends, or acquaintances. An amount of money borrowed each semester to cover education and living expenses. An amount of money lent based on the amount of money one receives each paycheck. Money borrowed from a lender either unsecured or secured (with only a signature or an item that can be taken by the bank in the event the loan isn’t paid, such as a car or home). Purchasing products using a credit line at one particular store only.
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