• Home
  • Article License
  • Contact us
  • Forum
  • Privacy Policy

Free PLR Articles

Check out the largest database of Free PLR Articles on internet. Freeplrarticle cover more than 1000 categories and niches. Use our free plr articles for your blogs and websites

Credit

Understand Credit Terminology

Most of us deal with credit in our day to day lives sometimes in the form of credit purchases or making use of credit cards. But there are many credit terms that you should understand clearly to know exactly what is involved in your credit.

1. Credit Score – A credit score is a statistical calculation of the credit information obtained in a consumer’s credit report. FICO score is a common credit score type that includes Beacon and Empirica. They are all used to calculate the future probability for you repaying any loans based upon your credit history.

2. FICO – FICO is a mathematical calculation that lenders use so as to evaluate the risk associated with lending you money. FICO stands for Fair Isaac Company, the company that originally created the formula.

3. Liquidation – Liquidation is the process of converting assets into cash to pay off creditors and this process is used in personal and corporate bankruptcy as a solution to get out of debt from the lenders.

4. Repossession – Repossession is voluntary surrender of merchandise as a result of the failure of the customer to pay what is being owed. So if you purchase an item on credit and fail to pay for it then the entity who sells it to you reclaim it.

5. Revolving Account – A revolving account is an account that requires a minimum payment each month in addition to a service charge. When this balance decreases, the service charge or interest also declines.

6. Bankruptcy – This is a form of financial protection where the borrower is unable to pay the rent or mortgage and has no credit or means of paying for it and therefore he is unable to reconcile with the collection agencies.

7. Average Daily Balance – The average daily balance is the method of calculation of your credit balance and interest. It involves crediting your account from the day your payment is received.

8. Annual Percentage Rate (APR) – APR is the yearly rate that lenders charge the borrowers for borrowing the money. This is also known as “the cost pf credit”.

9. Amortization – Amortization is a payment plan that allows the borrowers to reduce their debt through monthly payments of principal.

10. Adjusted Balance – Adjusted balance is a method of calculating your credit balance and Annual percentage rate where payments made during the billing cycle are subtracted from your balance at the end of the previous billing cycle.

Word count: 404

What’s your Reaction?
Love
Love
0
Smile
Smile
0
Haha
Haha
0
Sad
Sad
0
Star
Star
0
Weary
Weary
0
0 Shares
Facebook Twitter Whatsapp Gmail Linkedin
×

Share this post!

Facebook Twitter Whatsapp Gmail Linkedin Pinterest Messenger Reddit Telegram Tumblr VKontakte Email
Tagged Account, Balance, Credit, Day, Fico, Pay, Score

Related Posts

Do You Really Know How To Improve Your Credit

November 1, 2022

Tips On Establishing A Credit History

November 1, 2022

Repair Credit Rating There Is No Quick Fix

November 1, 2022

Post navigation

Things To Consider When Purchasing Granite Tile
Debt Reduction Solution Play It Safe

Categories

  • Acne
  • Adsense
  • Advertising
  • Affiliate Marketing
  • After School Activities
  • Air Purifiers
  • Alternative Energy
  • Alternative Medicine
  • American History
  • Anger Management
  • Article Marketing
  • Article Writing
  • Arts Entertainment
  • Aspen Nightlife
  • Astronomy
  • Atkins Diet
  • Attraction
  • Atv
  • Auctions
  • Audio Video Streaming
  • Autism Articles
  • Auto Leasing
  • Auto Navigation Systems
  • Auto Responders
  • Auto Sound Systems
  • Autoresponders
  • Aviation
  • Baby
  • Backyard Activities
  • Bargain Hunting
  • Bathroom Remodeling
  • Bbqs
  • Beach Vacations
  • Beauty
  • Biking
  • Black History
  • Blogging
  • Bluetooth Technology
  • Boating
  • Boats
  • Book Marketing
  • Book Reviews
  • Breast Cancer
  • Breast Feeding
  • Buying A Boat
  • Buying Paintings
  • Candle Making
  • Car Rental
  • Car Stereo
  • Cardio
  • Careers
  • Carpet
  • Cars
  • Cats
  • Cd Duplication
  • Celebrities
  • Cell Phone
  • Choosing The Right Golf Clubs
  • Christmas Shopping
  • Cigars
  • Closet Organizers
  • Clothing
  • Coaching
  • Coffee
  • Coin Collecting
  • College
  • College Scholarship
  • Colon Cancer
  • Colon Cleanse
  • Commentary
  • Communications
  • Computer Certification
  • Computer Games Systems
  • Computers Technology
  • Consumer Electronics
  • Contact Lenses
  • Cooking
  • Copywriting
  • Crafts
  • Craigslist
  • Creating An Online Business
  • Creativity
  • Credit
  • Credit Card Debt
  • Credit Cards
  • Criminology
  • Cruises
  • Currency Trading
  • Current Events
  • Customer Service
  • Dance
  • Data Recovery
  • Dating
  • Dating Women
  • Debt
  • Debt Consolidation
  • Decorating For Christmas
  • Dental
  • Dental Assistant
  • Depression
  • Destinations
  • Diabetes
  • Diamonds
  • Diesel Vs Gasoline Vehicles
  • Dieting
  • Digital Camera
  • Digital Products
  • Disease Illness
  • Disneyland
  • Divorce
  • Dogs
  • Domains
  • Ebay
  • Ebooks
  • Ecommerce
  • Education
  • Elderly Care
  • Electric Cars
  • Elliptical Trainers
  • Email Marketing
  • Entrepreneurs
  • Environmental
  • Ethics
  • Excavation Equipment
  • Exercise
  • Extreme
  • Ezine Marketing
  • Family Budget
  • Fashion
  • Finance
  • Financial
  • Fishing
  • Fitness Equipment
  • Food Beverage
  • Forex
  • Forums
  • Fruit Trees
  • Fundraising
  • Gambling
  • Games
  • Gardening
  • Goal Setting
  • Golden Retriever
  • Golf
  • Google Adsense
  • Gourmet
  • Grief
  • Hair Loss
  • Happiness
  • Health Fitness
  • History
  • Hobbies
  • Holidays
  • Home Family
  • Home Improvement
  • Home Security
  • Homeschooling
  • Hunting
  • Innovation
  • Inspirational
  • Insurance
  • Interior Design
  • Internet Business
  • Internet Marketing
  • Investing
  • K12 Education
  • Landscaping
  • Language
  • Leadership
  • Leasing
  • Legal
  • Leukemia
  • Loans
  • Marriage
  • Martial Arts
  • Medicine
  • Meditation
  • Mens Issues
  • Mesothelioma
  • Misc
  • Mortgage
  • Motivation
  • Motorcycles
  • Movie Reviews
  • Multiple Sclerosis
  • Muscle Building
  • Music Reviews
  • Mutual Funds
  • Nutrition
  • Organizing
  • Outdoors
  • Ovarian Cancer
  • Parenting
  • Personal Finance
  • Pets
  • Philosophy
  • Podcasts
  • Politics
  • Ppc Advertising
  • Pregnancy
  • Product Reviews
  • Prostate Cancer
  • Psychology
  • Public Speaking
  • Real Estate
  • Recipes
  • Recreation Sports
  • Reference Education
  • Relationships
  • Religion
  • Rss
  • Running
  • Rvs
  • Science
  • Security
  • Self Improvement
  • Seo
  • Site Promotion
  • Skin Cancer
  • Society
  • Sociology
  • Spam
  • Spirituality
  • Stock Market
  • Stress Management
  • Success
  • Supplements
  • Taxes
  • Tennis
  • Time Management
  • Traffic Generation
  • Travel Leisure
  • Travel Tips
  • Trucks Suvs
  • Uncategorized
  • Vacations
  • Vehicles
  • Wealth Building
  • Weather
  • Web Design
  • Web Hosting
  • Weddings
  • Weight Loss
  • Wine
  • Womens Issues
  • Writing
  • Yoga

Tags

Body Business Car Card Cards Children Companies Company Credit Day Debt Don'T Find Free Game Good Great Health Home Information Insurance Interest Internet Life Loan Loans Market Marketing Money Mortgage Online Pay People Person Product Products Search Site Sites Time Water Web Website Work World

Recent Posts

  • Advertising – Are You Wasting Your Money?
  • Advertisers Embrace ‘Rich Media’ Format
  • Advertise, no matter if you are big or small
  • Advertise, Advertise, Advertise
  • Action Figures: Antiques for the Common Man

Recent Comments

No comments to show.

Copyright 2022 © Freeplrarticle.net. All Rights Reserved.
Blog Way by ProDesigns