Spending limit vocab

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

• Borrower

• tax lien

• lender

• credit

a loan of a certain amount that a borrower must repay in a specified number of payments. Known as installment credit

• tax lien

• borrower

• Closed-end credit

• lender

businesses hired by lenders to pursue debt payments that borrowers have not paid back

• borrower

• Collection agency

• credit reporting agencies

• lender

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

• lender

• borrower

• partner

• Co-Signer

goods, services, or money received in exchange for the promise to pay back at a future date.

• Credit report

• Credit

• credit card

• lease

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

• Credit report

• credit score

• Credit History

• Open-end credit

the maximum dollar amount that can be borrowed

• Credit Limit

• Credit score

• credit ceiling

• Lender

a record of a person's credit history issues by a credit reporting agency

• Borrower

• Tax lien

• Credit history

• Credit Report

create credit reports, sometimes called credit bureaus

• Borrower

• Credit reporting agency

• credit

• credit history

a numerical summary of your credit history issued by FICO

• Credit score

• credit history

• credit report

• open-end credit