Business English Reading Comprehension: Consumers Using Credit Cards Again

📚 Important Words to Know
consumer spending — the total amount of money spent by households on goods and services
revolving credit — a type of credit that can be borrowed, repaid, and borrowed again, such as a credit card
interest rate — the percentage charged on borrowed money or paid on deposited funds
credit limit — the maximum amount a lender allows a borrower to access on a credit line
debt-to-income ratio — a measure comparing total monthly debt payments to gross monthly income
delinquency rate — the percentage of loans or debts on which payments are overdue
consumer confidence — a measure of how optimistic consumers are about economic conditions and their finances
credit bureau — an agency that collects and provides information on individuals' credit histories
minimum payment — the smallest amount a cardholder must pay each month to remain in good standing
default — the failure to repay a debt according to the agreed terms