| A | B |
|---|
| Credit application | A form on which you provide information needed by a lender to make a decision about granting credit or approving a loan. |
| Credit Bureau | A company that gathers information on credit users and sells that information in the form of credir reports to credit grantors. |
| Credit memorandum | A written record of the amount subtracted from an account when merchandise has been returned. |
| Credit record | A report that shows the debts you owe, how often you use credit, and wether you pay your debts on time. |
| Creditworthy | Having established a credit record that shows you are a good credit risk |
| Debt-repayment plan | An agreement developed cooperatively by a creditor and debtor to reduce payments to a more manageable level and still pay off the debt. |
| Equal credit opportunity act | An act that prohibits creditors from denying credit because of age, race, sex, or marital status. |
| Fair credit billing act | A law that requires prompt correction of billing mistakes when they are brought to the attention of a business in a prescribed manner. |
| Fair Credit reporting act | A law that gives consumers the right to know what specific information credit bureaus are providing to potential creditors, employers, and insurers. |
| Receipt | A written form that acknowledges payment was made. |
| Statement or statement of account | A record of the transactions that you have completed with a business during a billing period. |
| Truth in lending Law | A law which requires that you be told the cost of credit purchase in writing before you sigh a credit agreement. |
