Categories: C

Financially sound enough to justify the extension of credit.

The amount of credit a person has compared with the amount they’ve used.

A cooperative financial institution that is chartered by the National Credit Union Administration (a federal independent agency) or a state government and is owned by its individual members.

A number created from a scoring model that uses information from your credit history.

A summary of your credit activity and current credit situation such as loan paying history and the status of your credit accounts. Lenders use these reports to help them decide if they will loan you money and what interest rates, they will offer you. Other businesses might use your credit reports to determine whether to … Read more

A limit set by the credit card company on how much you can charge on the card it issued to you. You can use your credit card to make purchases up to your credit limit.

A summary of how you’ve used your credit card for a billing period.

An open-ended loan that allows you to borrow money up to a certain limit and carry over an unpaid balance from month to month. There is no fixed time to repay the loan if you make the minimum payment due each month. You pay interest on any outstanding credit card loan balance.

Borrowing money, or having the right to borrow money, to buy something. Usually, it means you’re using a credit card, but it might also mean that you got a loan.

To have good value for money you paid.