Credit rating agencies assign a score to an individual's credit rating, but this number may vary according to the methodologies used in calculating the credit score. Having good credit makes it easier to obtain loans, such as mortgages, and allows the borrower to obtain a more favorable interest rate. The most commonly used credit score is the FICO Score.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
with good credit — index solvent Burton s Legal Thesaurus. William C. Burton. 2006 … Law dictionary
credit cards — are increasingly used instead of cash or cheques to pay for goods and services. When the cardholder is present, e.g. in a shop, the card is swiped and a bill is printed. The cardholder has to sign the bill or key their PIN (personal… … Universalium
credit — an entry made on the right hand side of an account and indicating a gain to a liability, owner s equity or revenue account. Glossary of Business Terms money loaned. Bloomberg Financial Dictionary * * * ▪ I. credit cred‧it 1 [ˈkredt] noun 1.… … Financial and business terms
Credit — Money loaned. The New York Times Financial Glossary * * * ▪ I. credit cred‧it 1 [ˈkredt] noun 1. [uncountable] COMMERCE an arrangement with a shop, supplier etc to buy something now and pay for it later: • They are saving for new furniture… … Financial and business terms
Credit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl … Wikipedia
credit — /ˈkrɛdət / (say kreduht) noun 1. commendation or honour or acknowledgement given for some action, quality, etc. 2. a person or thing being acknowledged as a source of commendation or honour: a credit to the team. 3. influence or authority… … Australian English dictionary
credit card — noun a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered do you take plastic? • Syn: ↑charge… … Useful english dictionary
credit risk — The risk to earnings or capital from the potential that a borrower or counterparty will fail to perform on an obligation. Usually, but not always, the obligation in question is a requirement to make interest or principal payments. Sometimes… … Financial and business terms
Credit risk — The risk that an issuer of debt securities or a borrower may default on his obligations, or that the payment may not be made on a negotiable instrument. Related: Default risk * * * credit risk credit risk ➔ risk1 * * * The risk that an issuer… … Financial and business terms
credit — / kredɪt/ noun 1. the period of time allowed before a customer has to pay a debt incurred for goods or services ● to give someone six months’ credit ● to sell on good credit terms ♦ to open a line of credit or a credit line to make credit… … Marketing dictionary in english