Flashcards: Credit

A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members.

A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers.

A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of the person.

(For other uses, see Loan (disambiguation).) In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity.

Islamic banking (Arabic: مصرفية إسلامية‎‎) is banking or banking activity that is consistent with the principles of sharia (Islamic law) and its practical application through the development of Islamic economics.

A credit bureau is a collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, and a credit information company (CIC) in India.

A collection agency, also known as a debt collector, is a business or other entity that specializes in debt collection, i.

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity.

Hire purchase (abbreviated (HP) this is an arrangement whereby a company acquires an asset by paying an initial installment (e.g. 40% of the total) and repays the other part of the cost of the asset over a period of time or term for a contract, in which a purchaser agrees to pay for goods in parts or a percentage over a number of months. In Canada and the United States, a hire purchase is termed an installment plan although these may differ slightly as in a hire purchase agreement the ownership of the good remains with the seller until the last payment is made. Other analogous practices are described as closed-end leasing or rent to own.

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.

Weemba is a social network that enables borrowers and professional lenders to find and transact with each other more efficiently.

Creditinfo is an Icelandic credit bureau and information services group with operations in more than 25 countries.

FreedomPlus is a lender that focuses on underwriting loans to prime and sub-prime consumers.

Experian plc is a global information services group with operations in 40 countries, with corporate headquarters in Dublin, Republic of Ireland and operational headquarters in Nottingham, United Kingdom; Costa Mesa, California, United States; São Paulo, Brazil; and Heredia, Costa Rica.

Earnest is a technology-enabled lender, headquartered in San Francisco that offers personal loans, student loan refinancing, and loans for coding academies.

FatWallet is a comparison shopping website, centering on a set of forums that allows users to publish deals and rebate offers on products and services, with computer-related products and electronics most prominent in the listings.

CreditorWatch is an Australian credit reporting agency that manages the credit files of all commercial businesses in Australia.

A letter of credit is a document, typically from a bank (issuing bank), assuring that a seller (beneficiary) will receive payment up to the amount of the letter of credit, as long as certain documentary delivery conditions have been met.

Tally Technologies, Inc.

WeFinance is a technology-enabled platform connecting lender with borrowers, headquartered in San Francisco.

Credit Savvy is a free credit scoring and credit reputation service for Australian consumers available on the web and mobile browsers.

AnnualCreditReport.

Gerber Finance is a New York-based company that provides asset-based lines of credit with an understanding of inventory to small and medium-sized businesses on the Eastern Seaboard of the United States and Canada.

Quizzle is a website that offers a free VantageScore 3.

A moneylender is a person or group who typically offers small personal loans at high rates of interest and is distinct from banks and financial institutions that typically provide such loans.

Credit Karma is a free credit and financial management platform for US consumers available on the web and major mobile platforms.