Across
- 4. A three-digit number (ranging from 300-850)based on an individual's credit history detailed in a credit report.
- 6. The most commonly used credit score. Fair Isaac & Company.
- 7. A federal law that helps to ensure the accuracy, fairness and privacy of the information in consumer credit bureau files
- 11. An agreement in which a borrower receives something of value now and agrees to repay the lender in the future, generally with interest.
- 12. A loan with an interest rate that does not change over the life of the loan.
- 14. Debt not tied to a specific asset, making it difficult or impossible for the lender to repossess items if payments are not made.
- 15. A consumer-reporting company that collects and sells information about how individual people manage their credit
Down
- 1. Debt tied to a specific tangible asset that can be used as collateral and repossessed if payments are not made.
- 2. An inquiry into your credit history as part of a background check. This does not affect your credit score.
- 3. A loan in which the interest rate can change, based on prime rate or index rate, over the course of the loan.
- 5. An agreement where you are credited with a fixed amount of money for a fixed period of time, usually with interest
- 8. A plastic card that allows you to make purchases now with borrowed money, which then you must repay to the lender in one lump sum or in monthly payments with interest.
- 9. An inquiry into your credit history, typically in advance of applying for a loan. It can negatively affect your credit for 12 months and remain on your credit history for 2 years.
- 10. A document with information about a person's credit activity and history.
- 11. Something valuable that the lender can take as payment if you can't or don't repay your secured loan.
- 13. Original amount of money borrowed, separate from interest or fees.