CREDIT | IDENTITY THEFT |
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What is credit?
Money you borrow from a creditor that you will repay with interest
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What is dumpster diving?
When identity thieves go through your trash to find personal information to use for fraudulent purposes
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What is non installment credit?
Money you borrow for a short time, usually from a retail store
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What is installment credit?
Money you borrow for a specific purchase, with interest charged for a longer period
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What is revolving open-end credit?
Credit with a maximum amount based on income and credit history, with interest charged monthly on the remaining balance
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What is the type of credit you have on your credit card?
Credit cards have revolving open-end credit
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