Credit and Debt Vocabulary

Front

A statistical number used to represent a consumer's creditworthiness.

Back

Credit Score

Front

A legal claim against (or right to own) an asset until the debt (loan) is repaid.

Back

Lien

Front

The increase in value of something over time; the difference between the amount owed and what the item could be sold for.

Back

Equity

Front

Addressed consumer concerns by putting limits on unfair credit card tactics.

Back

Card Act 2009

Front

Failure to pay a loan on time (delinquent).

Back

Default

Front

A loan or fixed amount of money that's paid back in monthly installments.

Back

Installment Credit

Front

Type of card issued by a bank that allows users to finance a purchase.

Back

Credit Card

Front

"I Love Debt" score formerly known as the Fair Isaac Corporation.

Back

FICO Score

Front

A lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash.

Back

Predatory Lender

Front

Money owed to another person or company.

Back

Debt