Sales price

Total price for an item, including taxes and fees.

Sales tax

Total amount of sales tax on a purchase.

Sales tax rate

Percentage sales tax to be charged on a purchase. Sales tax for buying is charged on the total sales amount. In the case of a lease, sales tax is only due on the amount of the lease and is added to each lease payment.

Satisfactory accounts

Accounts that are current or have been paid satisfactorily.

Satisfied

If a consumer has paid all the money the court says he/she owes, the judgment is called "satisfied."

Scheduled payment

Payment due at a scheduled time. In the case of a home, the monthly principal and interest payment is based on your original mortgage amount, term and interest rate.

Score factors

Score factors are elements from your credit report that drive your credit score. For example, such elements as your total debt, types of accounts, number of late payments and age of accounts are what determine your credit score. Score factors can have a positive or negative affect on your credit score.

Secured credit

Loan for which some form of acceptable collateral, such as a house, car or deposit has been pledged.

Security

Real or personal property that a borrower pledges as collateral for the term of a loan. Should the borrower fail to repay, the creditor may take ownership of the secured property by following legal procedures.

Security alert

A statement that is added to one's credit report when a credit bureau is notified that the consumer may be a victim of fraud. It remains on file for 90 days. A Security Alert suggests that creditors should request proof of identification before granting credit in that person's name. Once a security alert has been added, your report will no longer be available for online viewing. You may still receive your report through the mail.

Security interest

The creditor's right to take property or a portion of property offered as security (collateral) for a loan.

Seller's points

A lump sum paid by the seller to the buyer's creditor to reduce the cost of the loan to the buyer. This payment is either required by the creditor or volunteered by the seller, usually in a loan to buy real estate. One point equals one percent of the loan amount.

Service costs

A component of some finance charges, such as the fee for triggering an overdraft checking account into use.

Settlement costs

This includes all fees paid to the lender and mortgage broker, and certain other fees paid to third parties for services that the lender requires the borrower to purchase. The remaining settlement costs involve payments to third parties, which lenders do not control and for which they cannot ordinarily provide accurate information until later in the origination process. As the borrower, you should shop around because the lender knows what they are.

State tax withholding

Total amount withheld for state taxes.

Statement

A bill summarizing all of the activity on an account within a specified period of time. A credit card statement is the monthly bill from a credit card issuer that describes and summarizes the activity on an account. Most credit card statements include the outstanding balance, purchases, payments, credits, finance charges and other transactions for the month.

Statement date

The date on which a statement is created, and the date used to calculate finance charges (interest) for the statement period.

Statistical models

Statistical models are used to generate credit scores. Modelers analyze credit reports from millions of consumers to identify the variable that most likely determine future creditworthiness, which is expressed in the form of a credit score.

Stock index

A device that measures changes in the price of a basket of stocks, and represents the changes using a single figure.

Surcharge

An extra fee for using a service. Surcharges are also referred to as convenience fees and are commonly presented when using ATMs.