Credit: Good faith line that allows you to purchase items before paying.Credit Card: Card that authorizes purchases on creditCredit Card Fee: Commission given based on the percentage of the credit grantedCard debit card: A card similar to a credit card, used to withdraw money from a savings or checking account. The money is immediately transferred from the person's account. Interest: The cost of using another person's money. Interest Rate: The percentage that determines the amount of interest a person pays based on the principle. Credit Solicitation: A request for credit. Credit history: A record of your borrowing and payment habits. to determine a person's credibilityCredit checks: a review of past credit history, detailing previous credit dealingsCredit application: a record at the bottom of a credit check provided each time a creditor checks the person's creditRating credit: an estimate of the amount of collateral a bank could comfortably grant to a lawyerCredit line: the maximum amount of credit granted to a lawyerAPR: annual percentage rate, the commission given on extending credit, based on the principleMinimum payment : the minimum amount of money a debtor is required to pay Account Balance: the amount of credit extended at that time, including interest Balance Payer: the person responsible for repaying the debt Identity theft: the illegal use of a person's SSN person in order to obtain creditCredit Consolidation: a method of reducing the amount of debt owed through a single loan to replace two or more debts Teaser Rates: An introductory APR offered during a certain period to new debtors Transfers of balance: Debt transferred to another method of debt, i.e. a c...... means of paper...... Among the forms of non-payment is the temptation to buy what one cannot afford allow, or live beyond one's means. Credit in the form of a card may also result in possible loss of identity and account suspension during any investigation. In today's society, a low score closes many doors, from renting an apartment to getting a job. Overall a person shouldn't worry too much about their credit, they should just be careful about the route they take. A teenager should be excited to start exercising their financial freedom, as this will provide many paths to travel. A teen with a “good” credit score will be more likely to receive a job than a teen with no or bad credit score. Parents should encourage their children to maintain good financial habits and help them in their financial endeavors by covering their tracks and exposing them to responsibility.