The record of your prior credit purchases and payments.
Your ability to pay debts.
A form that you will fill out in order to be considered for a loan.
The assets you have at your disposal.
An organization that keeps track of credit that is extended to you and the payments you make.
This shows credit cards, car loans, mortgages and other types of credit that has been extended to you. It also shows payments you make and current balances on your accounts.
All the information in your credit report is assembled and calculated into a single number which indicates how well you handle credit.
The company that developed the credit score rating system.
It allows the holder to make purchases and pay for them at a later date.
Property accepted as security for a debt.
Major Bank Credit Cards
Visa, MasterCard, American Express
A time during which you can pay your bill before any finance charges begin.
A loan against the available credit on your credit card.
The difference between your card's credit limit and the amount of credit you have already used.
A legal decision that a person, company or organization is unable to pay debts owed.
Chapter 7 Bankruptcy
Eliminates most types of debt; you turn over property to be sold to pay your creditors.
Chapter 13 Bankruptcy
Provides a payment plan; allows you to keep your assets and helps you to pay off your creditors.