A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Secured Credit CardA card backed by a refundable cash deposit that sets your limit, designed to help build or rebuild credit history.
- Payment HistoryThe record of whether you paid your bills on time, which is the single biggest factor in most credit score calculations.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
- Installment LoanA loan repaid in fixed, scheduled payments over a set term, such as an auto loan, student loan, or personal loan.
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Plain-English education — not personalized legal, tax, or investment advice.