Term Answer Description Credit scoring A. Purchases made with this plastic card cause funds to be immediately transferred from the account holder's bank account to the seller-as if the account holder was paying with cash Debit card B. This form of open credit is the only type of consumer credit that allows a borrowing, home-owning taxpayer to deduct the loan's interest charges from his or her taxable income. FICO score C. This is the process of evaluating thee credit worthiness of a credit applicant via the assessment of an applicant's credit report and the calculation of a credit score. Reward card D. This professional financial advisor, in return for a fee, represent overextended consumers in negotiations with creditors. The advisor's objectives are often to reduce the size of consumers' payments, the size of their debt, or both Convenience check E. This type of credit card carries a higher interest rate than regular bank cards, and offers incentives, such as rebates-including airline tickets, cash, or credits that can be used to purchase the sponsor's merchandise. Home equity credit line by which to obtain a cash advance from the bank that offers a credit F This is one means card. Credit counselor G. This is the name given to special low introductory interest rates offered by banks to potential new customers H. This number, which was developed by Fair Isaac & Co., provide an indication of a Secured card borrower's credit risk and is based on, among other factors, the borrower's previous use of credit and payment history, the length of his or her credit history, and types of credit used. I Under this piece of federal legislation, billing statements must provide payoff information, Teaser rate including the number of months required to pay off the balance using only minimum payments. J. This credit card is useful for people with no credit or bad credit histories, and requires the Credit Card Act of 2009 card holder to invest in a certificate of deposit that can be used as collateral for the card. Save&Continue Grade It Now