Term | Definition |
---|---|
credit risk | How likely or unlikely you are to pay back money loaned to you. |
debt | Money you owe |
identity theft | When someone steals your private information, like your date of birth and Social Security number, and uses it to make unauthorized purchases |
installment loan | Loan with equal number of payments of the same amount over a fixed period of time. |
interest rate | The percentage of a loan amount you pay in order to borrow the money |
CREDIT SCORE | is a numerical rating of your credit-worthiness |
CREDIT REPORT | is a record that details a person's credit history |
FICO | is an acronym for the Fair Isaac Corporation |
CREDIT BUREAUS | also called credit agencies or credit reporting agencies |
CREDIT HISTORY | s a record of a person's borrowing and repayment activity |
Stack #2631140 fixing your credit card