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
- FICO ScoreThe most widely used credit score model, ranging from 300 to 850, that lenders check to gauge how risky you are to lend to.
- Late PaymentA payment made after its due date, which can trigger fees, higher rates, and damage to your credit history.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
- DelinquencyThe status of an account when payments are past due, which worsens the longer the debt goes unpaid.
- Credit ReportA detailed record of your borrowing history, including accounts, balances, and payment behavior, kept by the credit bureaus.
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