What is the term for a person requesting a loan?

Which companies collect information from creditors & lenders about consumer behavior?

What is the term for a service that helps consumers pay their debts and improve their credit?

What is another term for a credit report?

What is the total amount that a company will allow an individual to charge to a credit card?

What records are included in a credit report?

What is a number based on a consumer’s credit history used by businesses to understand how risky a borrower is?

What is the amount of money owed?

What ratio measures how much of your available credit you are using?

It's more commonly called credit utilization(how much of your credit you are using).

What is the status of an account that has not been paid? This occurs when the have been reported late multiple times and you have stopped paying them.

Which law protects consumers from discrimination in the credit and lending process?

What is the money a borrower pays for the ability to borrow from a lender? You pay this in addition to the amount you borrow.

What is the amount of money owed to a lender excluding interest?

A person or organization that makes funds available to a person or business with the expectation that the funds

A record of how a person has repaid credit obligations in the past.

These companies (Equifax, Experian and TransUnion) collect information from creditors & lenders about consumer behavior. This information is given to businesses that want to evaluate the risk of lending money to a borrower.

A law passed in 2003, FACT requires credit bureaus to provide all

US residents with a free copy of their credit report once every 12 months.

What does APR mean?

What does the APR indicate?

True or False?

Lower APRs mean that you will be paying less interest on a credit card balance.

An inquiry into your credit history, typically in advance of applying for a loan. Can negatively affect your credit for 12 months and remain on your credit history for two years.