credit card debt
Revolving charge owed
Credit card debt is money owed to credit card companies, typically carrying high interest rates that compound if balances aren't paid in full each month.
The phrase often implies financial strain or poor spending habits: They're drowning in credit card debt.
Unlike mortgages or student loans, credit card debt is considered "bad debt" because it usually finances consumption rather than assets.
Chief school administrator
- balanceSteadiness or amount owed
- lenderOne who loans money
- debtorOne who owes
- repaymentGiving back what's owed
installment · cash advance · balance transfer · minimum payment · statement balance · outstanding balance · payoff · settlement
Yearly borrowing cost
- interest rateCost of borrowing money
- finance chargeCost of borrowing money
- late feePenalty for overdue payment
- annual feeRecurring yearly charge
cash advance fee · variable rate · grace period · billing cycle · due date · default rate · usury · accrued interest
Defeated by sheer volume
- anxietyPersistent apprehensive distress
- burdenOppressive weight or duty
- worryTroubled mental state
- sleepless nightsProlonged inability to rest
collection calls · financial strain · shame · guilt · denial · desperation · hopelessness · fear
Exceeding one's budget
- impulse buysUnplanned spur-of-moment acquisitions
- retail therapyShopping to improve mood
- lifestyle inflationSpending rising with income
- buy now pay laterInstallment option at checkout
materialism · shopping addiction · splurge · status symbol · consumer culture · instant gratification · online shopping · spending habits
Creditworthiness rating system
- payment historyRecord of past transactions
- ExperianCredit reporting company
- EquifaxConsumer credit monitor
- TransUnionCredit reporting company
Debt elimination process
- Chapter 13Debt repayment bankruptcy option
- insolvencyInability to pay debts
- dischargeRelease of substance outward
- liquidationSelling assets for cash
creditors · means test · trustee · petition · exemptions · unsecured debts · bankruptcy court · filing fees
principal
Chief school administrator
repayment · installment · cash advance · balance transfer · minimum payment · statement balance · outstanding balance · payoff · settlement · consolidation loan
APR
Yearly borrowing cost
- interest rateCost of borrowing money
- finance chargeCost of borrowing money
- late feePenalty for overdue payment
annual fee · cash advance fee · variable rate · grace period · billing cycle · due date · default rate · usury · accrued interest · introductory rate
overwhelmed
Defeated by sheer volume
sleepless nights · collection calls · financial strain · shame · guilt · denial · desperation · hopelessness · fear · avoidance
overspending
Exceeding one's budget
- impulse buysUnplanned spur-of-moment acquisitions
- retail therapyShopping to improve mood
- lifestyle inflationSpending rising with income
buy now pay later · materialism · shopping addiction · splurge · status symbol · consumer culture · instant gratification · online shopping · spending habits · living beyond means
FICO
Creditworthiness rating system
- payment historyRecord of past transactions
- ExperianCredit reporting company
- EquifaxConsumer credit monitor
Chapter 7
Debt elimination process
- Chapter 13Debt repayment bankruptcy option
- insolvencyInability to pay debts
- dischargeRelease of substance outward
liquidation · creditors · means test · trustee · petition · exemptions · unsecured debts · bankruptcy court · filing fees · attorney fees
- debtscar loan, student loan, loans, bank loan, personal loan
- bills & debtsmortgage, car loan, student loan, personal loan, home equity loan
- money mistakesoverspending, impulse buying, no savings, late payments, bounced checks
- overspendingoverdraft, impulse buying, shopping sprees, retail therapy, splurging
- business debtbank loan, commercial loan, loan, secured loan, term loan
- debt typespayday loan, bank loan, personal loan, auto loan, student loan
credit card debtsavings
Accumulated money kept
wealth · cash reserves · emergency fund · nest egg · investment portfolio
credit card debtfinancial freedom
financial discipline · saving · frugality · fiscal responsibility · financial security
credit card debtmortgage
Secured home loan
student loans · home equity · secured debt · installment loan · auto loan
card, credit, debt, cards, postcard, cardboard, discredit, credits, credited