Credit Terms

The fee a credit card company charges a credit card holder to use the card for a year.

• Annual Fee
• Annual Percentage Rate (APR)
• Bad Credit
• Charge Card

A measurement used to compare different loans, the APR takes into account a loan's interest rate, term, and fees to illustrate the total cost of credit expressed as a yearly rate. The lower the APR, the lower the total cost of the loan.

• Annual Percentage Rate (APR)
• Bad Credit
• Charge Card
• Co-signer

A situation in which lenders believe that , due to a borrower's poor history of repaying his or her debts, further loans to this person would be especially risky.

• Bad Credit
• Charge Card
• Co-signer
• Credit

A form of credit card where the balance must be paid in full each month.

• Charge Card
• Co-signer
• Credit
• Credit Card

A person who signs a loan agreement with the borrower and agrees to repay the loan if the borrower does not make the payments.

• Co-signer
• Credit
• Credit Card
• Credit History

The ability to borrow money and pay it back later.

• Credit
• Credit Card
• Credit History
• Credit Limit

A card that may be used repeatedly to borrow money or buy products and services on credit. Credit cards are issued by financial institutions, retail stores, and other businesses. A credit card offers the card holder revolving credit that can be paid monthly with as little as the required minimum payment.

• Credit Card
• Credit History
• Credit Limit
• Good Credit

A written record of a person's use of credit, including applying for credit, and using credit or loans to make purchases. Also called a credit report

• Credit History
• Credit Limit
• Good Credit
• Grace Period

The maximum dollar amount the lender is willing to make available to the borrower according to the agreement between them. For example, if you have a credit card, the credit agreement will usually specify the maximum amount of money you are allowed to charge.

• Credit Limit
• Good Credit
• Grace Period
• Inflation

A situation in which lenders are willing to make loans to an individual, due to his or her good history of repaying debts.

• Good Credit
• Grace Period
• Inflation
• Installment Loan