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Weekly Quiz 6
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Question 1 of 1
Drag the correct word or phrase to the right-hand column next to its definition.
- credit invisible
- debt-to-income ratio
- qualified mortgage
- negative amortization
- Debit card
- payday loan
- Equal Credit Opportunity Act
Consumers with either no credit history or an insufficient credit history that does not provide enough information for a credit score.
Calculation of monthly debt divided by gross income.
A person who applies for a loan with you and is legally required to repay it if you cannot.
Type of loan with certain legal protections to help ensure borrowers can afford their loan.
Payments made towards principal balance but not interest, causing the total amount of money owed to increase.
A small plastic card used to pay for things by having funds taken directly from your bank account
A small, short-term loan from a business that typically must be repaid by your next payday.
Federal law that protects consumers from being discriminated against based on their race, sex, national origin, age, marital or familial status, or public assistance status, when applying for a credit card.