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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. Accelerated Payment Scheduled payment plus additional monthly payment. Leads to quicker payoff of debt and less interest paid over life of loan. Account condition Each account on your Experian credit report has an "Account Condition." It indicates the present state of the account (current, past due, etc.), but does not indicate the payment history of the account. Each account on your Experian credit report has an "Account Condition." It indicates the present state of the account (current, past due, etc.), but does not indicate the payment history of the account. Account monitoring Once lenders make a "yes" decision, they might want to review your credit report [...]