Credit Terminology

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Credit Rating

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Your credit score (points) that is converted into a rating, which can range from poor to excellent.

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Credit Score

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Number or points that measure your risk of paying lenders back.

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Credit Report

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Detailed report on a person’s credit history and habits.

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Borrower

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Person that promises to pay someone later.

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Credit Risk

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How likely a person will pay back a lender.

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Credit

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Borrowing money and promising to pay the debt later.

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Credit Bureau

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Organization that maintains records on people’s credit history and issues credit reports.

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Lenders

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Issue credit or lend money to others.