A record that details a person's credit history

This is a fee that is charged when the terms of a loan are not followed.

A type of loan used to finance the purchase of real estate or a home.

An abbreviation for the interest rate charged on the balance of a credit card.

A numerical rating of your credit worthiness (how likely you are to pay off your debts). In the US, the most commonly used system is the FICO.

Something such as money that is owed to a lender.

The cardholder provides the lender with money to hold and they give you a credit limit up to that amount. This card protects the lender in the event that a borrower cannot pay and usually has a lower APR

The initial amount that is paid when something is bought using credit. They are usually provided at the time of purchase particularly when purchasing larger items, like a house or a car.

A type of credit score created by the Fair Isaac Corporation

A form of fraud. Thieves use another person's personal information in order to steal that person's money or gain access to other benefits.

Signing a lease or a loan along with another person in order to help guarantee that the lease or loan will be paid.

A record of a person's borrowing and repayment activity

When money is added into a bank account. In regards to lending, a sum of money owed.

The amount of money that you are able to charge to a credit card. If you exceed this, your purchase may not go through and you could be penalized.