Credit ngpf - Study guides, Class notes & Summaries

credit report Ans: a report created by credit bureaus on a person's creditworthiness credit bureau Ans: a business that gathers, stores, and sells credit information to other businesses credit score Ans: a number assigned to a person that indicates to lenders their capacity to repay a loan. 7-10 years Ans: the amount of time financial records remain on a credit report information you can expect to find a credit report Ans: repayment history of bill payment opened/closed accounts late...

NGPF-Managing Credit Exam With Questions And Accurate Answers ...

Grace Period - Answer The number of days between a consumer's credit card statement date and payment due date when interest does not accrue. It is a window of time during which a consumer owes money to a credit card company for new purchases made during the last billing cycle but isn't being charged interest. Minimum Payment - Answer The smallest amount of a credit card bill that a credit card holder must pay each billing cycle. Penalty APR - Answer It is a higher interest rate that can ...