Credit, Debt & Lending Financial Terms & Definitions

34 terms in this topic

This category includes vocabulary for loans, credit scores, interest rates, debt instruments, lending institutions, and repayment structures. It helps users understand how credit works, how debt is managed, and the roles of borrowers and lenders in financial transactions.

P

Principal

Principal is the original sum of money borrowed in a loan or the original amount invested, before any interest, earnings,…

Full Definition
T

TransUnion

TransUnion is one of the three major consumer credit reporting agencies in the United States, alongside Equifax and Experian. Its…

Full Definition
V

VantageScore

VantageScore is a credit scoring model developed by the three major credit bureaus: Equifax, Experian, and TransUnion. It was introduced…

Full Definition
Loan origination fee A loan origination fee is an upfront charge imposed by a lender to process, underwrite, and fund a… Minimum payment The minimum payment is the smallest amount you must pay each month on a credit card or other… Principal Principal is the original sum of money borrowed in a loan or the original amount invested, before any… Revolving debt Revolving debt is a type of credit arrangement that allows borrowers to draw, repay, and re-borrow funds up… Secured debt Secured debt is a type of loan or credit that is backed by an asset, known as collateral.… Soft inquiry A soft inquiry (also known as a soft credit check or soft pull) is a type of credit… TransUnion TransUnion is one of the three major consumer credit reporting agencies in the United States, alongside Equifax and… Truth in Lending Act (TILA) The Truth in Lending Act (TILA) is a landmark federal law enacted in 1968 as part of the… Unsecured debt Unsecured debt is a type of loan or credit that is not backed by any form of collateral.… VantageScore VantageScore is a credit scoring model developed by the three major credit bureaus: Equifax, Experian, and TransUnion. It…