Credit Vocabulary

Amount owed on a credit card or loan

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

a measure of financial ability to repay a loan

A measure of your financial responsibility, often based on your credit history

Property put down as security for a loan is known as

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

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

To pay for goods /services and at end of month they pay bill

a record of your past borrowing and repayments

person or institution to whom money is owed