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Definitions (220)
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zero balance
When the outstanding balance is paid and there are no new charges during a billing cycle
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zero-coupon bond
A bond that is sold at a price far below its face value, makes no annual or semi-annual interest payments, and is redeemed for its face value at maturity
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variable interest rate
An interest rate that changes up or down on a set schedule based on an economic index such as the prime rate
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yield
The rate of return earned by an investor who holds a security, such as a bond or stock, for a stated period of time
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unused credit
The amount of credit above what you owe that you could use; a maximum is usually set
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usury laws
Laws setting maximum interest rates that lenders may charge
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transaction fee
An extra charge for various credit activities such as using an ATM or receiving a cash advance
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traveler’s checks
Checks issued by a bank or other institution for a specified amount and signed by the buyer, who may use it as cash by signing it again in the presence of a witness, such as a clerk in a store
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unsecured loan
A loan based on a consumer’s promise to pay without savings or other collateral as a guarantee
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stockholder
An owner of a share of stock
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