click below
click below
Normal Size Small Size show me how
Fixing Your Credit
Term | Definition |
---|---|
Credit Score | a numerical rating of your credit-worthiness |
Credit Report | a record that details a person's credit history |
Credit History | a record of a person's borrowing and repayment activity |
FICO | the most commonly used credit score in the United States |
Credit Bureaus | companies that collect credit information about individuals |
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 and uses it to make unauthorized purchases |
Installment Loan | a 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 |