Credit Terms

Financial terms related to credit scores, borrowing, and debt management.

A three-digit number representing your creditworthiness based on your credit history.

The ratio of credit card balances to total credit limits; ideally kept below 30%.

Combining multiple debts into a single loan with potentially lower interest rates.

Failure to repay a loan or meet other financial obligations according to terms.

The most widely used credit scoring model, ranging from 300 to 850.

A payment card allowing you to borrow money from a card issuer, repaid monthly.

The share of your gross monthly income that goes to debt payments. Lenders use it to gauge how much more you can borrow.