Glossary

An interest rate is the percentage charged on top of expenses in credit plans. It’s variable and can change. There are two major types. In

An interest rate cap is the maximum amount that a percentage rate of a loan can increase or decrease. Interest rate caps are used to

This refers to a loan where the borrower only pays on the interest and not the principal. This type of loan has a repayment period

As a marketing strategy, customers may receive a lower introductory interest rate as an incentive to sign up for a card. This rate must be

An investigation as it relates to finance means that a consumer credit reporting agency begins the process of checking the credit report of an individual.

This refers to consumer report that is much more comprehensive and includes subjective information on a person’s character, lifestyle, practices etc.. These are usually commissioned

Involuntary bankruptcy occurs when the courts approve a creditor-filed petition against a debtor to declare them bankrupt.

This statement provides information about a specific transaction or item on your credit report.

This refers to an account that is held by two or more people, wherein each person is responsible for all debts. This account will show