Credit Score: A snapshot of a borrowers credit worthiness, a numerical score based on statistics showing the risk of default on a loan, takes into consideration available credit, management of existing credit, and any detrimental credit information.

 

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Credit Score: This is a number that is supposed to show the lender how likely you are to repay a loan--whether you are a good or poor credit risk. This score can be a very big factor in determining whethe . . . View Full Definition

Credit Report: This is a report which is generated by a credit reporting agency (such as Trans Union, Experion or Equifax). It is supposed to show accurately the history of your on-time and late payments o . . . View Full Definition

FICO® Score: Created by the Fair Isaac Corporation, FICO® is the best-known credit scoring system in the US. Based on the information in your credit report, your FICO® score is calculated using complex, . . . View Full Definition

Credit Repository: Organizations that maintain and make available public credit history records, lenders use information from credit repositories to derive credit scores for potential borrowers.

Honor Score: A score deemed worthy of an award by the governing bodies of ten pin bowling. The ultimate honor scores would be a 300 game and 900 series.

Home Equity Line Of Credit (HELOC): Sometimes referred to as a HELOC, a home equity line of credit lets you borrow against the equity you’ve built in your home, usually by using a debit card or writing checks against your avai . . . View Full Definition

Hers Score: A number between 0-100 that is used to designate the energy efficiency of a home compared to guidelines established by the Home Energy Rating System Council. The higher the score (number), t . . . View Full Definition

Guaranteed Export Credit: A Commodity Credit Corporation guarantee of commercial export credit is available through several export credit guarantee programs.

Hope Scholarship Credit: You may qualify for a Hope scholarship tax credit for money you spend on qualified educational expenses for yourself, your spouse, or a dependent child. To qualify, the student must be enrol . . . View Full Definition

High Credit: Valuable assets owned by a company, that are not accurately reflected in its stock price at a particular time.