Are some of these words a little too overwhelming…here is our guide to understanding complex words:

DEFINITIONS:

CD ? (certificate of deposit) a certificate issued by a bank to a person

depositing money for a specified length of time

Checking account ? an account at a bank against which checks can be drawn by the

account depositor

Credit ? the ability of a customer to obtain goods or services before payment, based on

the trust that payment will be made in the future

Credit score? a number assigned to a person that indicated to lenders their capacity to

repay a loan

Debit card ? a card issued by a bank allowing a holder to transfer money

electronically to another bank account when making a purchase

Interest ? money paid regular at a particular rate for the use of money lent or for

delaying the repayment of debt

Savings Account ? a bank account that earns interest