Credit Vocabulary

Front

Amount owed on a credit card or loan

Back

Balance

Front

the state of legally having been declared unable to pay off debts owed with available income

Back

Bankruptcy

Front

An arrangement to receive cash, goods, or services now and pay for them in the future.

Back

Credit

Front

company that collects information about your credit history and sells it to lenders

Back

Credit Bureau

Front

person or institution to whom money is owed

Back

Creditor

Front

a detailed report of an individual's credit history

Back

Credit Report

Front

a number assigned to a person that indicates to lenders their capacity to repay a loan.

Back

Credit score

Front

Failure to make minimum payment on time

Back

Delinquent

Front

A sum paid or charged for the use of money or for borrowing money

Back

Interest

Front

The amount of money borrowed

Back

Principal