Credit Management. Unit 4. Credit in America. Chapter 16 . FUN FACTS. In 2006, the credit card industry took in $55 billion in credit card fees and $90 billion in finance charges. Makes you want to pay your credit card bills on time. 10% - Credit Cards
Credit in America
Once you have completed the credit purchase, you owe money to the creditor.
Principal: amount borrowed
Balanceddue: is the amount borrowed plus interest for the time you have the loan
FinanceCharge: total dollar amount of interest and fees you pay for the use of credit.
This central site allows you to request a FREE credit report, once every 12 months from each of the nationwide consumer credit reporting companies. Equifax, Experian, and TransUnion.