Credit Vocabulary |
Credit and debt related terms that are on used on this site.
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View Glossary |
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| There are 11 entries in the glossary. |
| Pages: 1 |
| Account Condition | Indicates the present state of the account, but does not indicate the payment history of the account that led to the current state. (i.e. open, paid, charge off, repossession, settled, foreclosed, etc). |
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| Account number | The unique number assigned by a creditor to identify your account with them. Experian removes several digits of each account number on the credit report as a fraud prevention measure. |
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| Accounts in Good Standing | Credit items that have a positive status and should reflect favorably on your creditworthiness. |
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| Adjustment | Percentage of the debt that is to be repaid to the credit grantors in a Chapter 13 bankruptcy. |
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| AKA | Also Known As |
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| Algorithm | A complex mathematical model. In credit scoring, it is used to compare data in millions of credit reports and predict a person’s likelihood to repay debts. |
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| Annual percentage rate | A measure of how much interest credit will cost you, expressed as an annual percentage. |
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| Applicant | A person applying for credit privileges, employment or some other benefit. |
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| Asset | Any thing you own that has value or use. |
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| Authorized Account User | The person authorized by the contractually responsible party to use the account. |
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| Authorized User | Person permitted by a credit cardholder to charge goods and services on the cardholder’s account but who is not responsible for repayment of the debt. The account displays on the credit reports of the cardholder as well as the authorized user. If you wish to have your name permanently removed as an authorized user on an account, you will need to notify the credit grantor. |
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Glossary V2.0 |
