Spending unit

Someone who receives something with a promise to return it or its equivalent.

• Borrower

• Closed-ended credit

• Co signer

• Credit score

A loan of a certain amount of money that a borrower must repay in a specified number of equal payments, also known as installment credit

• borrower

• closed- end credit

• Collection agency

• Co signer

Business hired by lenders to pursue payments on debts that borrowers have not paid back according to the terms of credit contract

• collection agency

• co signer

• borrower

• credit

A person who is equally responsible for paying back debt under the credit terms

• Co-signer

• Borrower

• Credit

• Lender

Refers to goods, services, and or money received in exchange for a promise to pay back a definite sum of money at a future date

• Credit

• Lender

• Borrower

• Tax lien

A record of the borrower's past loans and credit related transactions

• Credit history

• Credit limit

• Credit report

• Credit score

The maximum dollar amount that can be borrowed

• Credit limit

• credit score

• credit report

• credit history

A record of a persons use of credit

• Credit score

• Credit report

• Credit history

• Credit limit

Agencies that create credit reports based on the information they receive from lenders regarding a borrowers account history with that lender. Sometimes called credit bureaus

• Credit reporting agencies

• Credit score

• Credit limit

• Credit history

A numerical summary of your credit history that indicates your credit worthiness

• Credit score

• Credit history

• Credit limit

• credit report