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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 |
Created by:
tmikels52