credit - the ability to acquire money, goods or services from others without immediate payment; an agreement to repay the purchase price and whatever interest is incurred, short-term loans - loans which will be in repayment for less than an 18 month time period, intermediate-term loans - loans which will be in repayment for 18 month to 10 years, long-term loans - loans which will be in repayment for more than 10 years, revolving credit - a line of credit extended to individuals or businesses who may use it as often as desired up to a specific dollar limit, credit cards - one of the most common types of loans; charged with debt either by passing the numeric strip through a card reader or by manually typing in the number on the front, annual percentage rate - a measure of the cost of credit; expressed as a yearly rate, annual fees - yearly membership or participation fees, transaction fees - fees for getting cash advances, making a late payment or exceeding your credit limit, credit Ratings or FICO scores - number calculated by using information on a credit report which shows lenders what risk they take by loaning money to you, dispute - to question the truth or validity or an entry on a statement, means - manner by which a result is obtained or an end is achieved, credit scores - numerical expression based on a statistical analysis of one's credit files which represents one's creditworthiness; primarily based on credit report information typically sourced from credit bureaus, FICO - acronym for Fair Isaac Credit Organization; credit score used by most lenders, foreclosure - event which occurs when a homeowner stops making mortgage payments and the mortgage lender takes possession of the property in order to sell it; the homeowner does not have the right to any money which comes from the sale of home, bankruptcy - legal process available for an individual who is overextended financially and is unable to pay debts, big ticket purchases - refers to retail good with a high selling price in comparison to other items, for example, cars, homes, etc., fixed interest rate - interest rate which does not fluctuate during the fixed rate period of the loan, adjustable interest rate - interest rate which may fluctuate up or down during the term of the loan, installments - buyer gains use of the commodity immediately and pays for it in periodic payments, lump sum - single sum of money which serves as a complete payment, collateral - property acceptable as security for a loan or other obligation, application fee - money paid to the bank or mortgage company to cover the expenses of processing a loan application, spending plan - budget; plan which helps one spend money in a wise manner concerning known income, expenses and future goals, net worth - total assets minus liabilities or debt, interest rate - usual way of calculating interest as a percentage of sum borrowed, defaulting - failing to perform a task or fulfill an obligation, especially failing to meet a financial obligation, liability - debt for which one is responsible to pay, creditor - person who has loaned money to someone on credit through a loan, credit check - when a potential lender purchases a copy of one's credit report to determine whether or not the person has the ability or character to repay a debt,

Credit Terms

Autor
Postavi

Top-lista

Vizualni stil

Postavke

Promijeni predložak

Vrati automatski spremljeno: ?