Credit
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is Credit
What is the legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts?
what is bankruptcy
a target or aim to help manage your money in the future
long term goals
debt-to-income ratio is the percentage of a consumer's monthly gross income that goes toward paying debts.
what is debt to income ratio
a charge the bank makes when against an account when a charge doesn't go through
what is a return item fee
What is the process of putting in a sum of money into a bank account called?
what is a deposit
What is the process of putting in a sum of money into a bank account called?
what is deposit
the acquisition of using another person's account information is called
what is identity theft
something pledged as security for repayment of a loan, to be forfeited in the event of a default.
what is collateral
a period of financial decline
what is a recession
refers to the amount of credit you have used compared with how much credit you have been extended by a lender. It also refers to a ratio that lenders use to determine your creditworthiness and is a factor that is used to determine your credit score
what is credit utilization
What is a bank account that earns interest?
what is savings account
a bank where all interactions are done online
what is internet bank
A group of people or the action or process of collecting someone or something
what is collections
money that gathers interest over time
what is yield
the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
what is interest rate
What's the interest that a bank pays to its customers on money in their accounts?
what is internet bank
an account that you put money aside in to use in the future
what is a savings account
the action or process of reducing or paying off a debt with regular payments.
what is amortization
a type of account where money gathers interest over time
what is a savings account
a credit score created by the Fair Isaac Corporation. Lenders use borrowers' scores along with other details on borrowers' credit reports to assess credit risk and determine whether to extend credit.
what is Fico score
What is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit called?
what is Commercial Bank
a retirement savings plan that allows people to put a portion of money into their account each year
what is a 401k
money that is owed and should have been paid earlier.
what is arrears
the amount of money you have saved in an account
what is a balance