Understand, Build and Manage
Your Credit whether you’re buying a home, a car or applying for a credit card – Terms are used and you may not know of its meaning so we put together a list of the most common terms out there.
A B C D E F G H I j k L M N O P Q R S T U V W X Y Z
A form of fraud in which a consumer's financial information is illegally acquired for the purpose of making unauthorized purchases and transactions with their credit cards, or with funds from their checking or savings accounts.
Income tax rate
This is your federal, state and local income tax rates combined. Your income tax rate is important in determining the amount you can save if you use a home equity loan to consolidate your debt
A number indicating a change in quantity, as of prices, relative to the magnitude at some specified point usually taken as 100.
There are two types of inquiry. A hard inquiry is when you have applied for credit, which gives a lender permission to pull your credit report. All hard inquiries are available for all credit grantors to review. A soft inquiry is only available for you to see. It does not influence your credit score. This type of inquiry includes your request for your credit report or pre-screen inquiries for credit grantors.
Credit accounts in which the debt is divided into amounts to be paid successively at specified intervals until the debt is paid off.
Debt to be paid at regular times over a specified period.
The percent, per unit of time, of the total sum borrowed that is charged by a bank or financial institution for the use of their money.
Investigative consumer reports
These are consumer reports that are usually ordered by a prospective employer for sensitive jobs where background checks and security clearances are necessary. An investigative consumer report might contain information obtained from a credit report, but it is more comprehensive than a credit report. It contains subjective material on an individual's character, habits and mode of living, obtained through interviewing the associates and neighbors of the person being investigated. Experian does not provide investigative consumer reports.
Investment rate of return
The amount you expect to earn on your investments. This is the return that you would make if you were to invest your down payment, security deposit or closing costs instead of using it in your purchase or lease of an auto or purchase of a home.
A petition filed by certain credit grantors (instead of by the individual or business) to have a debtor judged bankrupt. If the bankruptcy is granted, it is known as an involuntary bankruptcy.
A company or public sector entity with shares, bonds or other securities listed on a stock exchange.
Item specific statement
On your credit report, you have the right to offer an explanation about a particular account or public record item. Only one item-specific statement may be added per item. An item-specific statement is also known as a "consumer statement".