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A written record of a person's use of credit, including application for credit, and using credit/loans to make purchases.
What is Credit History?
The amount of money received during a period of time, including money received in exchange for labor or services.
What is Income?
The positive gain from an investment or a business operation after subtracting all expenses.
What is Profit?
A bank account that allows a customer to deposit and withdraw money AND earn interest on the balance.
What is Savings Account?
Required federal and sometimes state tax forms you must complete when you earn money.
What is Tax Return?
A written order instructing the bank to pay a specific amount of money to a specific person or entity.
What is a Check?
The amount of money paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time.
What is Interest?
A secret combination of letters or numbers you use to gain access to your account through an electronic device such as an ATM.
What is Personal Identification Number (PIN)?
The maximum dollar amount the lender is willing to make available to the borrower according to the agreement between them.
What is Spending Limit?
An agreement between a buyer and seller to exchange an asset for payment.
What is Transaction?
A second person who signs your credit or loan application.
What is Co-Signing?
Purchasing something of value with the goal of earning money over time if the value increases.
What is Investing?
What is Portfolio?
Certificate of ownership in a company.
What is Stock?
A period of time over which a loan is scheduled to be repaid.
What is Term?
When a financial institution pays you interest not only on your initial principal (the amount you deposited) but also on the interest your deposit earned over time.
What is Compound Interest?
What does "I.R.S." stand for?
What is Internal Revenue Service?
A base rate used to make loans to certain borrowers.
What is Prime Rate?
A monthly accounting document sent to you by your bank that lists your account balance at the beginning and the end of the month.
What is Statement?
A register that allows you to keep accurate records of your deposits and withdrawals.
What is Transaction Register?
Any borrower's assets that a lender has the right to take ownership of if the borrower doesn't pay the loan as agreed.
What is Collateral?
An amount of money repaid to a lender according to the terms of an installment lone.
What is Installment Payment?
A 2 part scam involving email and spoof websites.
What is Phishing?
A precise measurement of a property which defines legal boundaries of the property and the dimensions and location of improvements.
What is Survey?
A company specializing in titles, the legal documents that establish who has the current rights to, or ownership of a property, plus a history of the property's ownership and transfers.
What is Title Agency?