allows individuals to pay for goods on a card with a statement issued
credit card
1 of 6
the ability to withdraw money you do not have from a current account
overdraft
2 of 6
a long term loan to fund the purchase of assets
mortgage
3 of 6
allow an individual to borrow a set amount of money which is to be repaid in regular instalments, with interest
personal loan
4 of 6
a short term source of finance to bridge the gap between current moment in time and the next payday
payday loan
5 of 6
allows an individual to have use of an item immediately but pay for it in regular instalments. the property is only owned by the individual when the final instalment has been paid
hire purchase
6 of 6
Other cards in this set
Card 2
Front
the ability to withdraw money you do not have from a current account
Back
overdraft
Card 3
Front
a long term loan to fund the purchase of assets
Back
Card 4
Front
allow an individual to borrow a set amount of money which is to be repaid in regular instalments, with interest
Back
Card 5
Front
a short term source of finance to bridge the gap between current moment in time and the next payday
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