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
- Debit CardA card tied to your checking account that pulls money directly from your balance when you pay for something or withdraw cash.
- APR (Annual Percentage Rate)The yearly cost of borrowing money on a loan or credit card, stated as a percentage that includes interest and certain fees.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- InterestThe money a bank pays you for keeping deposits, or the money you pay a lender for borrowing, calculated as a percentage of the balance.
- Debt-to-Income Ratio (DTI)The share of your monthly income that goes to debt payments — a key number lenders check.
More in Banking
Account NumberAccount ReconciliationACH TransferAPY (Annual Percentage Yield)ATM (Automated Teller Machine)ATM Fee
Plain-English education — not personalized legal, tax, or investment advice.