What does charge off mean?
Definitions for charge off
charge off
This dictionary definitions page includes all the possible meanings, example usage and translations of the word charge off.
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Wiktionary
charge offnoun
A writeoff.
Wikipedia
charge off
A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off.
Numerology
Chaldean Numerology
The numerical value of charge off in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of charge off in Pythagorean Numerology is: 6
Examples of charge off in a Sentence
But then, as the economy recovered, credit card companies did not decrease their prices accordingly, despite seemingly lower risk of default, during the Covid-19 pandemic, issuers' margins and charge-off rates diverged even further.
We may see more consumers making a large purchase they had been putting off because it seems relatively more affordable, we'll likely see credit card rates decline by a small amount in response to the cut in the target federal funds rate. However, charge-off rates have been increasing over the past few years, which has also contributed to increased credit card rates among less credit-worthy consumers. So, I'd expect the effect to be more muted among those with low credit scores.
Translations for charge off
From our Multilingual Translation Dictionary
- إتهامArabic
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"charge off." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/charge+off>.
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