Credit and Debt

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Terms in Credit and Debt

Account History

An account history is a record that keeps track of all activity within an account such as trades, purchases, and other transactions. read more

Account Inquiry

An account inquiry is a review of the activity and performance of a financial account. It usually occurs when a person applies for a loan or credit card. read more

Address Verification Service (AVS)

The Address Verification Service (AVS) is used by financial institutions to identify fraudulent or suspicious credit card transactions. read more

Adequate Notice

Adequate notice is a written document that specifies the terms and conditions of a loan or extension of credit to a consumer in detail. read more

Adjustment Bureau

An adjustment bureau is an organization that focuses on helping businesses collect outstanding debts from delinquent debtors. read more

Adverse Credit History Defined

An adverse credit history refers to one with a low credit score and is considered a high risk to lenders. read more

Authorized Transaction

An authorized transaction is a debit or credit card purchase for which the merchant has received approval from the bank that issued the customer’s payment card.  read more

Available Credit

Available credit refers to how much a borrower has left to spend. This amount can be calculated by subtracting the borrower's purchases from the total credit limit on the account. read more

Back-End Ratio

The back-end ratio indicates what portion of a person's monthly income goes toward paying debts. read more

Bad Credit

Bad credit refers to a person's history of failing to pay bills on time, and the likelihood that they will fail to make timely payments in the future. read more

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