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Credit

Credit

Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately, but instead arranges either to repay or return those resources at a later date. The resources provided may be financial, or they may consist of goods or services. Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account. Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds. Credit is also traded in financial markets. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk – the protection "seller" takes the risk of default of the credit in return for a payment, commonly denoted in basis points of the notional amount to be referenced, while the protection "buyer" pays this premium and in the case of default of the underlying, delivers this receivable to the protection seller and receives from the seller the par amount.

— Freebase

Cash advance

Cash advance

A cash advance is a service provided by most credit card and charge card issuers. The service allows cardholders to withdraw cash, either through an ATM or over the counter at a bank or other financial agency, up to a certain limit. For a credit card, this will be the credit limit. Cash advances generally incur a fee, although this is sometimes waived if the account is in credit. When made on a credit card, they are usually charged at a higher rate of interest than a regular credit card transaction, and generally do not attract an interest-free period which is customarily given to cardholders who pay off their bill in full every month. Some "purchases" made with a credit card of items that are viewed as cash are also considered to be cash advances in accordance with the credit card network's guidelines, thereby incurring the higher interest rate and the lack of the grace period. These often include money orders, lottery tickets, gaming chips, and certain taxes and fees paid to certain governments. However, should the merchant not disclose the actual nature of the transactions, these will be processed as regular credit card transactions. Many merchants have passed on the credit card processing fees to the credit card holders in spite of the credit card network's guidelines, which state the credit card holders should not have any extra fee for doing a transaction with a credit card.

— Freebase

Credit bureau

Credit bureau

A credit bureau or consumer reporting agency, or credit reference agency is a company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses. It is an organization providing information on individuals' borrowing and bill-paying habits. Credit information such as a person’s previous loan performance is a powerful tool to predict his future behavior. Such credit information institutions reduce the effect of asymmetric information between borrowers and lenders, and alleviate problems of adverse selection and moral hazard. For example, adequate credit information could facilitate lenders in screening and monitoring borrowers as well as avoid giving loans to high risk individuals. This helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan. Interest rates are not the same for everyone, but instead can be based on risk-based pricing, a form of price discrimination based on the different expected risks of different borrowers, as set out in their credit rating. Consumers with poor credit repayment histories or court adjudicated debt obligations like tax liens or bankruptcies will pay a higher annual interest rate than consumers who don't have these factors. Additionally, decision-makers in areas unrelated to consumer credit, including employment screening and underwriting of property and casualty insurance, increasingly depend on credit records, as studies have shown that such records have predictive value. At the same time, consumers also benefit from a good credit information system because it reduces the effect of credit monopoly from banks, and it provides incentives for borrowers to repay their loans on time.

— Freebase

Credit rating

Credit rating

A credit rating evaluates the credit worthiness of a debtor, especially a business or a government. It is an evaluation made by a credit rating agency of the debtor's ability to pay back the debt and the likelihood of default. Credit ratings are determined by credit ratings agencies. The credit rating represents the credit rating agency's evaluation of qualitative and quantitative information for a company or government; including non-public information obtained by the credit rating agencies analysts. Credit ratings are not based on mathematical formulas. Instead, credit rating agencies use their judgment and experience in determining what public and private information should be considered in giving a rating to a particular company or government. The credit rating is used by individuals and entities that purchase the bonds issued by companies and governments to determine the likelihood that the government will pay its bond obligations. A poor credit rating indicates a credit rating agency's opinion that the company or government has a high risk of defaulting, based on the agency's analysis of the entity's history and analysis of long term economic prospects.

— Freebase

Credit history

Credit history

Credit history or credit report is, in many countries, a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy. The term "credit reputation" can either be used synonymous to credit history or to credit score. In many countries, when a customer fills out an application for credit from a bank, store or credit card company, their information is forwarded to a credit bureau. The credit bureau matches the name, address and other identifying information on the credit applicant with information retained by the bureau in its files. That is why it is very important for creditors, lenders and others to provide accurate data to credit bureaus. This information is used by lenders such as credit card companies to determine an individual's credit worthiness; that is, determining an individual's ability and track record of repaying a debt. The willingness to repay a debt is indicated by how timely past payments have been made to other lenders.

— Freebase

Line of credit

Line of credit

A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of commercial bills, traditional revolving credit card account, etc. It is effectively a source of funds that can readily be tapped at the borrower's discretion. Interest is paid only on money actually withdrawn. Lines of credit can be secured by collateral, or may be unsecured. Lines of credit are often extended by banks, financial institutions and other licensed consumer lenders to creditworthy customers to address liquidity problems; such a line of credit is often called a personal line of credit. The term is also used to mean the credit limit of a customer, that is, the maximum amount of credit a customer is allowed.

— Freebase

Letter of credit

Letter of credit

A letter of credit is a document issued by a financial institution, or a similar party, assuring payment to a seller of goods and/or services provided certain documents have been presented to the bank. These are documents that essentially prove that the seller has performed his duties under an underlying contract and the goods have been supplied as agreed. In return for these documents, the beneficiary receives payment from the financial institution that issued the letter of credit. The letter of credit serves essentially as a guarantee to the seller that it will be paid regardless of whether the buyer ultimately fails to pay. In this way, the risk that the buyer will fail to pay is transferred from the seller to the letter of credit's issuer. The letter of credit can also be used to ensure that all the agreed upon standards and quality of goods are met by the supplier, provided that these requirements are reflected in the documents described in the letter of credit. Letters of credit are used primarily in international trade for transactions between a supplier in one country and a customer in another. Most letters of credit are governed by rules promulgated by the International Chamber of Commerce known as Uniform Customs and Practice for Documentary Credits. They are also used in the land development process to ensure that approved public facilities will be built. The parties to a letter of credit are the supplier, usually called the beneficiary, the issuing bank, of whom the buyer is a client, and sometimes an advising bank, of whom the beneficiary is a client. Almost all letters of credit are irrevocable, i.e., cannot be amended or canceled without the consent of the beneficiary, issuing bank, and confirming bank, if any. In executing a transaction, letters of credit incorporate functions common to giros and traveler's cheques.

— Freebase

Credit

Credit

to enter upon the credit side of an account; to give credit for; as, to credit the amount paid; to set to the credit of; as, to credit a man with the interest paid on a bond

— Webster Dictionary

Farm Credit System

Farm Credit System

The Farm Credit System is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $191 billion in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives. Congress established the Farm Credit System in 1916 to provide a reliable source of credit for the nation's farmers and ranchers. Today, the Farm Credit System provides more than one-third of the credit needed by those who live and work in rural America. Farmers, ranchers, agribusiness, rural homeowners, and rural utilities depend on the Farm Credit System's funding and services to produce the high quality food and agricultural products enjoyed in the United States and around the globe. The Farm Credit System mission is to provide a reliable source of credit for American agriculture by making loans to qualified borrowers at competitive rates and providing insurance and related services.

— Freebase

Credit card

Credit card

A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. The issuer of the card creates a revolving account and grants a line of credit to the consumer from which the user can borrow money for payment to a merchant or as a cash advance to the user. A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date. The size of most credit cards is 3 ⅜ × 2 ⅛ in, conforming to the ISO/IEC 7810 ID-1 standard. Credit cards have an embossed bank card number complying with the ISO/IEC 7812 numbering standard.

— Freebase

Credit reference

Credit reference

A credit reference is information, the name of an individual, or the name of an organization that can provide details about an individual's past track record with credit. Credit rating agencies provide credit references for companies while credit bureaus provide credit references for individuals. Other letters of credit reference might be written by banks which would provide basic information about how long the applicant has held an account, what type of account it was, and whether or not there were any overdrafts or late payments noted. Individuals and companies can carry out credit checks on businesses in order to assess their credit worthiness

— Freebase

Credence

Credence

krē′dens, n. belief: trust: the small table beside the altar on which the bread and wine are placed before being consecrated.—n. Creden′dum, a thing to be believed, an act of faith:—pl. Credenda.—adjs. Crē′dent, easy of belief; Creden′tial, giving a title to belief or credit.—n. that which entitles to credit or confidence: (pl.) esp. the letters by which one claims confidence or authority among strangers.—ns. Credibil′ity, Cred′ibleness.—adj. Credible (kred′-), that may be believed.—adv. Cred′ibly.—n. Cred′it, belief: esteem: reputation: honour: good character: sale on trust: time allowed for payment: the side of an account on which payments received are entered: a sum placed at a person's disposal in a bank on which he may draw to its amount.—v.t. to believe: to trust: to sell or lend to on trust: to enter on the credit side of an account: to set to the credit of.—adj. Cred′itable, trustworthy: bringing credit or honour.—n. Cred′itableness.—adv. Cred′itably.—ns. Cred′itor, one to whom a debt is due:—fem. Cred′itrix; Crē′do, the Creed, or a musical setting of it for church services; Credū′lity, credulousness: disposition to believe on insufficient evidence.—adj. Cred′ulous, easy of belief: apt to believe without sufficient evidence: unsuspecting.—adv. Cred′ulously.—ns. Cred′ulousness; Creed, a summary of articles of religious belief, esp. those called the Apostles', Nicene, and Athanasian: any system of belief. [Fr.,—Low L. credentia—L. credent-, believing, pr.p. of credĕre.]

— Chambers 20th Century Dictionary

Trust

Trust

trust, n. trustworthiness: confidence in the truth of anything: confident expectation: a resting on the integrity, friendship, &c. of another: faith: hope: credit (esp. sale on credit or on promise to pay): he who, or that which, is the ground of confidence: that which is given or received in confidence: charge: an arrangement by which property is handed to or vested in a person, in the trust or confidence that he will use and dispose of it for the benefit of another, also the estate so managed for another: in modern commerce, an arrangement for the control of several companies under one direction, to cheapen expenses, regulate production, beat down competition, and so obtain a maximum return.—adj. held in trust.—v.t. to place trust in: to believe: to give credit to: to sell upon credit: to commit to the care of: to expect confidently.—v.i. to be confident or confiding.—ns. Trust′-deed, a deed conveying property to a trustee; Trustee′, one to whom anything is entrusted: one to whom the management of a property is committed in trust for the benefit of others; Trustee′ship; Trust′er; Trust-estate′, an estate held by trustees.—adj. Trust′ful, trusting: worthy of trust.—adv. Trust′fully.—n. Trust′fulness.—adv. Trust′ily.—n. Trust′iness.—adj. Trust′ing, confiding.—adv. Trust′ingly.—adj. Trust′less, treacherous, unfaithful.—ns. Trust′lessness; Trust′worthiness.—adjs. Trust′worthy, worthy of trust or confidence: trusty; Trust′y (comp. Trust′ier, superl. Trust′iest), that may be trusted: deserving confidence: honest: strong: firm: (Shak.) involving trust.—Active, or Special, trust, a trust in which the trustee's power of management depends upon his having the right of actual possession; Breach of trust, a violation of duty by a trustee, executor, &c.; In trust, as a charge, for safe-keeping; On trust, on credit. [Scand., Ice. traust, trust; Ger. trost, consolation.]

— Chambers 20th Century Dictionary

Course credit

Course credit

A course credit is a unit that gives weighting to the value, level or time requirements of an academic course taken at a school or other educational institution. In high schools, where all courses are usually the same number of hours, often meeting every day, students earn one credit for a course that lasts all year, or a half credit per course per semester. This credit is formally known as a Carnegie Unit. After a typical four-year run, the student needs 24 to 28 credits to graduate. Some high schools have only three years of school because 9th grade is part of their middle schools, with 18 to 21 credits required. In a college or university, students typically receive credit hours based on the number of "contact hours" per week in class, for one term; formally, Semester Credit Hours. A contact hour includes any lecture or lab time when the professor is teaching the student or coaching the student while they apply the course information to an activity. Regardless of the duration of the course and depending on the state or jurisdiction, a semester credit hour is 15-16 contact hours per semester. Most college and university courses are 3 Semester Credit Hours SCH or 45-48 contact hours, so they typically meet for three hours per week over a 15 week semester. To provide students with the minimum 45-48 contact hours while accounting for holidays, college start dates, etc., many courses will have 50 or more contact hours. Otherwise, a Monday course may have only 42 contact hours, while a Tuesday course may have 48 contact hours. Faculty in community colleges typically teach 15 SCH or more per semester. Faculty in comprehensive or baccalaureate colleges and universities typically have a 12 SCH per semester. Faculty teaching significant graduate work or large classes may have "load lifts" or "course reductions." Faculty at research universities typically have an official teaching load of 12 SCH per semester, but their actual load is reduced because of the requirement for significant peer reviewed published research.

— Freebase

Bill of credit

Bill of credit

Bill of credit is a phrase from Article One, Section 10, Clause One of the United States Constitution. It refers to a document similar to a banknote that is issued by a government and designed to circulate as money. Because the framers of the Constitution sought to limit the issuance of currency, it explicitly prohibits the states from issuing bills of credit. The restriction of emitting bills of credit was extended to Congress as well, because the power to "emit bills and borrow money on credit" during the previous Articles of Confederation was struck out and revised in the Constitution to only "borrow money on the credit. British colonies in North America would issue bills of credit in order to deal with financial crises, although doing so repeatedly would result in price inflation and a drop in value relative to the pound sterling. The documents would circulate as if they were currency, and colonial governments would accept them as payment for debts like taxes. They were not always considered legal tender for private debts. Colonial decisions on the issuance of bills of credit were also frequently the subject of disputes between differing factions within the colony, and with royally appointed governors. Between 1690 and 1750 the matter was regularly debated in the Province of Massachusetts Bay, where merchants and lenders stood to lose value when new bills were issued, and borrowers stood to gain, because they could repay their debts with depreciated bills. The Massachusetts bills were finally retired in 1749 when the province received a large payment in coin for its financial contributions to the 1745 Siege of Louisbourg. The Province of New Jersey issued bills of credit beginning in the 1710s, but successfully managed to avoid significant inflationary effects.

— Freebase

Credit default option

Credit default option

In finance, a default option, credit default swaption or credit default option is an option to buy protection or sell protection as a credit default swap on a specific reference credit with a specific maturity. The option is usually European, exercisable only at one date in the future at a specific strike price defined as a coupon on the credit default swap. Credit default options on single credits are extinguished upon default without any cashflows, other than the upfront premium paid by the buyer of the option, of course. Therefore buying a payer option is not a good protection against an actual default, only against a rise in the credit spread. This may explain why such options are very illiquid. They may also feature quite high implied volatilities, as shown by Damiano Brigo. However options on credit indices such as iTraxx and CDX include any defaulted entities in the intrinsic value of the option when exercised. This is expressed at times by stating that the options offer "front-end protection". Proper inclusion of front end protection complicates index options valuation, see for example Claus M. Pedersen, or Brigo and Morini.

— Freebase

credit card

credit card

A plastic card, with a magnetic strip or an embedded microchip, connected to a credit account and used to buy goods or services. It's like a debit card, but money comes not from your personal bank account, but the bank lends money for the purchase based on the credit limit. Credit limit is determined by the income and credit history. Bank charge APR (annual percentage rate) for using of money.

— Wiktionary

Credit crunch

Credit crunch

A credit crunch is a reduction in the general availability of loans or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates. In such situations, the relationship between credit availability and interest rates has implicitly changed, such that either credit becomes less available at any given official interest rate, or there ceases to be a clear relationship between interest rates and credit availability. Many times, a credit crunch is accompanied by a flight to quality by lenders and investors, as they seek less risky investments.

— Freebase

Credit event

Credit event

A credit event occurs when a person or organization defaults on a significant transaction. Because the marketplace recognizes such events as related to one's credit worthiness, credit events can trigger specific protections provided by credit derivatives. The events triggering a credit derivative are defined in a bilateral swap confirmation which is a transactional document that typically refers to an ISDA master agreement previously executed between the two swap counterparties. There are several standard credit events which are typically referred to in credit derivative transactions: ⁕Bankruptcy ⁕Failure to Pay ⁕Restructuring ⁕Repudiation ⁕Moratorium ⁕Obligation Acceleration ⁕Obligation Default

— Freebase

Trade credit

Trade credit

Trade credit is the largest use of capital for a majority of business to business sellers in the United States and is a critical source of capital for a majority of all businesses. For example, Wal-Mart, the largest retailer in the world, has used trade credit as a larger source of capital than bank borrowings; trade credit for Wal-Mart is 8 times the amount of capital invested by shareholders. For many borrowers in the developing world, trade credit serves as a valuable source of alternative data for personal and small business loans. The 1993 National Survey of Small Business Finance indicated that ethnic differences in the use of trade credit are present, especially for Black-owned businesses, which research shows use less trade credit, are less likely to take advantage of discounts for early payment, and are more likely to have payments past due. There are many forms of trade credit in common use. Various industries use various specialized forms. They all have, in common, the collaboration of businesses to make efficient use of capital to accomplish various business objectives.

— Freebase

Accredit

Accredit

ak-kred′it, v.t. to give credit, countenance, authority, or honour to: to furnish with credentials (with to, at): to vouch for anything belonging to some one—to ascribe or attribute it to him (with).—v.t. Accred′itate (obs.).—n. Accreditā′tion, fact of being accredited.—The pa.p. Accred′ited, as adj., recognised. [Fr. accréditerà, to, crédit, credit. See Credit.]

— Chambers 20th Century Dictionary

Discredit

Discredit

dis-kred′it, n. want of credit: bad credit: ill-repute: disgrace.—v.t. to refuse credit to, or belief in: to deprive of credibility: to deprive of credit: to disgrace.—adj. Discred′itable, not creditable: disgraceful.—adv. Discred′itably.

— Chambers 20th Century Dictionary

Tick

Tick

tik, v.i. to get or give credit.—n. credit: trust.—n. Tick′-shop, a shop where goods are given on credit.—Buy on tick, to buy on credit. [Ticket.]

— Chambers 20th Century Dictionary

Revolving credit

Revolving credit

Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store.

— Freebase

Progreso Financiero

Progreso Financiero

Company Overview Progress Financial Corporation is a consumer finance company that offers unsecured credit to Hispanics that lack established credit and banking relationships. Our customers are hard working immigrants who have been in the US for 10 years and at the same job for 3.3 years. They come to the US to get ahead and to create a better life for their children. Unfortunately, given the way credit works in the United States, most immigrants have a very difficult time getting loans, building credit and entering the financial mainstream. As a result, we believe that a very large opportunity exists to offer personal loans, retail installment loans and credit cards to a fast growing population of honest, hard working people who demonstrate a high moral commitment to personal obligations. Under the brand name, Progreso Financiero, we market, sell and disburse $500 - $5000 loans in Spanish from a network of distribution points located inside large Hispanic supermarkets and high traffic malls. We currently have 4 locations in the Bay Area, but have plans to expand rapidly to other parts of California and the United States. Founding Story The idea for Progress Financial was born out of a research project at Stanford's Graduate School of Business led by MBA student, James Gutierrez, and sponsored by Professors Charles Holloway and Joel Peterson. Raised among Mexican immigrants, James aimed to start a business that helped hard-working Hispanics achieve their financial goals in the US. The team of ex-Bain and McKinsey consultants interviewed 30+ senior executives at retailers and financial institutions who have successfully penetrated the Hispanic market, namely Wells Fargo, Bank of America, Fair Isaac, Experian, Ace Check Cashing, Lexicon Marketing, and La Curacao. The team also studied several credit companies in Latin America that have proven that lending to the poor is profitable and highly impactful. These businesses include Banco Azteca/Elektra, Casas Bahia, Compartamos, Credito Familiar and Zogbi Bank. Gabriel Manjarrez, Bank of America's former Hispanic Segment Executive, who led the bank's acquisition of 4M+ Hispanic consumers and testified in Congress on the use of Matricula Consular IDs in financial services, later joined James as co-founder. We currently have sales locations in San Jose, CA, one of the most important Hispanic immigrant communities in the country.

— Freebase

Credit card fraud

Credit card fraud

Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft. According to the United States Federal Trade Commission, while identity theft had been holding steady for the last few years, it saw a 21 percent increase in 2008. However, credit card fraud, that crime which most people associate with ID theft, decreased as a percentage of all ID theft complaints for the sixth year in a row. Although incidence of credit card fraud is limited to about 0.1% of all card transactions, this has resulted in huge financial losses as the fraudulent transactions have been large value transactions. In 1999, out of 12 billion transactions made annually, approximately 10 million—or one out of every 1200 transactions—turned out to be fraudulent. Also, 0.04% of all monthly active accounts were fraudulent. Even with tremendous volume and value increase in credit card transactions since then, these proportions have stayed the same or have decreased due to sophisticated fraud detection and prevention systems. Today's fraud detection systems are designed to prevent one twelfth of one percent of all transactions processed which still translates into billions of dollars in losses.

— Freebase

Universal default

Universal default

Universal default is the term for a practice in the financial services industry in the United States for a particular lender to change the terms of a loan from the normal terms to the default terms when that lender is informed that their customer has defaulted with another lender, even though the customer has not defaulted with the first lender. This is a phenomenon that dates from the mid-1990s. Credit card companies included universal default language in their cardholder agreements at that time, due to increasing deregulation of the industry. Today, approximately half of the banks that issue credit cards have universal default language. However, since the inception of these provisions, most credit card companies have not enforced them regularly or systematically. Every year since at least 2003, Congress has considered several bills to curb abusive credit card practices, including universal default provisions. In the meantime, the Office of the Comptroller of the Currency issued a stern advisory letter to the credit card industry regarding several of the most egregious practices. Most credit card companies have not responded to the letter.

— Freebase

credit report

credit report

A document of the history and current status of a borrower's credit standing, and may include identifying information, credit information, public-records information, recent inquiries and credit score.

— Wiktionary

acquirer

merchant bank, acquirer

a credit card processing bank; merchants receive credit for credit card receipts less a processing fee

— Princeton's WordNet

merchant bank

merchant bank, acquirer

a credit card processing bank; merchants receive credit for credit card receipts less a processing fee

— Princeton's WordNet

Charge card

Charge card

A charge card is a card that provides a payment method enabling the cardholder to make purchases which are paid for by the card issuer, to whom the cardholder becomes indebted. The cardholder is obligated to repay the debt to the card issuer in full by the due date, usually on a monthly basis, or be subject to late fees and restrictions on further card use. Though the terms charge card and credit card are sometimes used interchangeably, they are distinct protocols of financial transactions. Credit cards are revolving credit instruments that do not need to be paid in full every month. There is no late fee payable so long as the minimum payment is made at specified intervals. The balance of the account accrues interest, which may be backdated to the date of initial purchase. Charge cards are typically issued without spending limits, whereas credit cards usually have a specified credit limit that the cardholder may not exceed. Though originally charge account identification was paper-based, in 1959 American Express became the first charge card operator to issue embossed plastic cards to ISO/IEC 7810 ID-1 standard. Cards have an embossed bank card number complying with the ISO/IEC 7812 numbering standard.

— Freebase

Credit default swap

Credit default swap

A credit default swap is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a loan default or other credit event. The buyer of the CDS makes a series of payments to the seller and, in exchange, receives a payoff if the loan defaults. It was invented by Blythe Masters from JP Morgan in 1994. In the event of default the buyer of the CDS receives compensation, and the seller of the CDS takes possession of the defaulted loan. However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan. If there are more CDS contracts outstanding than bonds in existence, a protocol exists to hold a credit event auction; the payment received is usually substantially less than the face value of the loan. Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion, falling to $26.3 trillion by mid-year 2010 but reportedly $25.5 trillion in early 2012. CDSs are not traded on an exchange and there is no required reporting of transactions to a government agency. During the 2007-2010 financial crisis the lack of transparency in this large market became a concern to regulators as it could pose a systemic risk. In March 2010, the [DTCC] Trade Information Warehouse announced it would give regulators greater access to its credit default swaps database.

— Freebase

Credit risk

Credit risk

Credit risk refers to the risk that a borrower will default on any type of debt by failing to make payments which it is obligated to do. The risk is primarily that of the lender and include lost principal and interest, disruption to cash flows, and increased collection costs. The loss may be complete or partial and can arise in a number of circumstances. For example: ⁕A consumer may fail to make a payment due on a mortgage loan, credit card, line of credit, or other loan ⁕A company is unable to repay amounts secured by a fixed or floating charge over the assets of the company ⁕A business or consumer does not pay a trade invoice when due ⁕A business does not pay an employee's earned wages when due ⁕A business or government bond issuer does not make a payment on a coupon or principal payment when due ⁕An insolvent insurance company does not pay a policy obligation ⁕An insolvent bank won't return funds to a depositor ⁕A government grants bankruptcy protection to an insolvent consumer or business To reduce the lender's credit risk, the lender may perform a credit check on the prospective borrower, may require the borrower to take out appropriate insurance, such as mortgage insurance or seek security or guarantees of third parties, besides other possible strategies. In general, the higher the risk, the higher will be the interest rate that the debtor will be asked to pay on the debt.

— Freebase

Trial balance

Trial balance

A Trial Balance is a list of all the General ledger accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit balance value. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance. The name comes from the purpose of a trial balance which is to prove that the value of all the debit value balances equal the total of all the credit value balances. Trialing, by listing every nominal ledger balance, ensures accurate reporting of the nominal ledgers for use in financial reporting of a business's performance. If the total of the debit column does not equal the total value of the credit column then this would show that there is an error in the nominal ledger accounts. This error must be found before a profit and loss statement and balance sheet can be produced.

— Freebase

Reverse mortgage

Reverse mortgage

A reverse mortgage is a form of equity release. It is a loan available to home owners or home buyers, enabling them to access a portion of the subject home's equity. The home owners can draw the mortgage principal in a lump sum, by receiving monthly payments over a specified term or over their lifetimes, as a revolving line of credit, or some combination thereof. In a conventional mortgage the homeowner makes a monthly amortized payment to the lender; after each payment the equity increases by the amount of the principal included in the payment, and when the mortgage has been paid in full the property is released from the mortgage. In a reverse mortgage, the home owner is under no obligation to make payments, but is free to do so with no pre-payment penalties. The line of credit portion operates like a revolving credit line, so a payment in reduction of a line of credit increases the available credit by the same amount. Interest that accrues is added to the mortgage balance. Title to the property remains in the name of the homeowners, to be disposed of as they wish, encumbered only by the amount owing under the mortgage. If a property has increased in value after a reverse mortgage is taken out, it is possible to acquire a second reverse mortgage over the increased equity in the home in some areas. However most lenders do not like to take a second or third lien position behind a reverse mortgage because its balance increases with time. It is rare to find reverse mortgages with subordinate liens behind them as a result. A reverse mortgage may be refinanced if enough equity is present in the home, and in some cases may qualify for a streamline refinance if the interest rate is reduced.

— Freebase

Credit score in the United States

Credit score in the United States

A credit score in the United States is a number representing the creditworthiness of a person, the likelihood that person will pay his or her debts. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers. Widespread use of credit scores has made credit more widely available and cheaper for consumers.

— Freebase

Purchase ledger

Purchase ledger

A purchase ledger is a system in accountancy by which a business records and monitors its creditors. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit. Information on invoices and credit notes received, and payments made, are recorded in the supplier's account using the debits and credits system, with the balance of each account at a given moment representing the amount currently owed to that supplier. Historically, the purchase ledger was maintained in book form, hence the term ledger, but in modern practice it is much more likely to be held on computer using accountancy software or a spreadsheet. The purchase ledger will ordinarily hold a credit balance, unless credit notes or over-payments exceed the credit balance.

— Freebase

Credit limit

Credit limit

A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit. For example, it is the most that a credit card company will allow a card holder to take out at once on a card. This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow and/or ability to repay the credit card debt and is an obligation of the consumer to pay just like all other parts of the balance.

— Freebase

Credit card interest

Credit card interest

Credit card interest is the principal way in which credit card issuers generate revenue. A card issuer is a bank or credit union that gives a consumer a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously. The bank pays the payee and then charges the cardholder interest over the time the money remains borrowed. Banks suffer losses when cardholders do not pay back the borrowed money as agreed. As a result, optimal calculation of interest based on any information they have about the cardholder's credit risk is key to a card issuer's profitability. Before determining what interest rate to offer, banks typically check national, and international, credit bureau reports to identify the borrowing history of the card holder applicant with other banks and conduct detailed interviews and documentation of the applicant's finances.

— Freebase

Child tax credit

Child tax credit

A child tax credit is a tax credit available in some countries, which depends on the number of dependent children in a family. The credit may depend on other factors as well, such as income level. For example, in the United States only families making less than $110,000 per year may claim the full credit. Similarly, in the United Kingdom the tax credit is only available for families making less than £42,000 per year.

— Freebase

People Capital

People Capital

The People Capital peer-to-peer student loan lending platform facilitates lending decisions based on a student’s “potential” rather than credit payment history.Recent events in the capital markets have led to overly harsh treatment of student borrowing. Not only have lenders fled the market, but also, those that have stayed, are unable to best distinguish between good and bad risks. We aim to address both issues. The People Capital platform generates liquidity in the market by matching all lenders with all borrowers, not just “family and friends.” Institutional lenders remain the largest source of capital in these markets. Our Human Capital Score is based on the work of leading academics, and addresses the challenge of how to assess the creditworthiness of those just starting their credit histories. It underwrites students without credit history, FICO scores or co-signers by projecting individual income levels and ability to pay indebtedness. We incorporate GPAs, SAT scores, internships, college and major to providing a true and unbiased, data-driven measure of economic value of an education. Our credit assessments will allow lenders to make credit risk decisions based on the true potential of the borrower. Poised for funding the 2009 academic year, People Capital, Inc. was founded in 2008 by a team of world-class talent with backgrounds in student lending, consumer finance, credit ratings and new media to develop the next generation of credit risk management and funding for student financing.

— CrunchBase

Rental Kharma

Rental Kharma

Good Renters Deserve Good Credit. Rental Kharma enables renters to self report rent payments and build their credit. Rent has traditionally not been included on credit reports and Rental Kharma is the first company to partner with a major credit bureau and allow renters to get the credit they deserve for making timely rent payments. Through the easy registration and verification process, renters can report up to two years of past rent payments all at once. Renters who use Rental Kharma’s rent reporting service can expect to improve their credit history and credit score.

— CrunchBase

Visa Inc.

Visa Inc.

Visa Inc. is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards and debit cards. Visa does not issue cards, extend credit or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash-access programs to their customers. In 2008, according to The Nilson Report, Visa held a 38.3% market share of the credit card marketplace and 60.7% of the debit card marketplace in the United States. In 2009, Visa’s global network processed 62 billion transactions with a total volume of $4.4 trillion. Visa has operations across Asia-Pacific, North America, Central and South America, the Caribbean, Western Europe, Central and Eastern Europe, Africa and Middle East. Visa Europe is a separate membership entity that is an exclusive licensee of Visa Inc.'s trademarks and technology in the European region, issuing cards such as Visa Debit.

— Freebase

Credit union

Credit union

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. Many credit unions also provide services intended to support community development or sustainable international development on a local level, and could be considered community development financial institutions. Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members.

— Freebase

Certificate of deposit

Certificate of deposit

A certificate of deposit is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions, and credit unions. CDs are similar to savings accounts in that they are insured and thus virtually riskfree; they are "money in the bank". CDs are insured by the Federal Deposit Insurance Corporation for banks and by the National Credit Union Administration for credit unions. They are different from savings accounts in that the CD has a specific, fixed term, and, usually, a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest. In exchange for keeping the money on deposit for the agreed-on term, institutions usually grant higher interest rates than they do on accounts from which money may be withdrawn on demand, although this may not be the case in an inverted yield curve situation. Fixed rates are common, but some institutions offer CDs with various forms of variable rates. For example, in mid-2004, interest rates were expected to rise, many banks and credit unions began to offer CDs with a "bump-up" feature. These allow for a single readjustment of the interest rate, at a time of the consumer's choosing, during the term of the CD. Sometimes, CDs that are indexed to the stock market, the bond market, or other indices are introduced.

— Freebase

Bankcard

Bankcard

Bankcard was a shared-brand credit card issued by financial institutions in Australia and New Zealand between 1974 and 2006. It was managed by the Bankcard Association of Australia, a joint venture of Australia's largest banks, and was the nation's first mass-market credit card. Before 1974, only store cards, Diners Club and American Express were available in Australia and these were either restrictive or only accessible to the wealthy. In the first decade after its introduction, Bankcard dominated the Australian credit card market, with more than 5 million cardholders at its peak in 1984. As a result of a declining cardholder base, falling transaction volumes and shrinking market share in relation to internationally-accepted credit cards such as VISA and MasterCard, the card was withdrawn from use in 2006.

— Freebase

Automated Clearing House

Automated Clearing House

Automated Clearing House is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit payroll and vendor payments. ACH direct debit transfers include consumer payments on insurance premiums, mortgage loans, and other kinds of bills. Debit transfers also include new applications such as the point-of-purchase check conversion pilot program sponsored by NACHA – The Electronic Payments Association. Both the government and the commercial sectors use ACH payments. Businesses increasingly use ACH online to have customers pay, rather than via credit or debit cards. Rules and regulations that govern the ACH network are established by NACHA and the Federal Reserve. In 2012, this network processed an estimated 21 billion ACH transactions with a total value of $36.9 trillion. Credit card payments are handled by separate networks. The Federal Reserve Banks are collectively the nation's largest automated clearing house operator, and in 2005 processed 60% of commercial interbank ACH transactions. The Electronic Payments Network, the only private-sector ACH operator in the U.S., processed the remaining 40%. FedACH is the Federal Reserve's centralized application software used to process ACH transactions. EPN and the Reserve Banks rely on each other for the processing of some transactions when either party to the transaction is not their customer. These interoperator transactions are settled by the Reserve Banks.

— Freebase

Time served

Time served

In criminal law, "time served" describes a sentence where the defendant is credited immediately after the guilty verdict with the time spent in remand awaiting trial. The time is usually subtracted from the sentence, with only the balance being served after the verdict. For example, the final verdict in the trial of Louise Woodward was that she was guilty, and her sentence was "time served". In this case, this meant she was immediately released. Time served simply refers to "the period a criminal defendant has been in jail, while awaiting either bail or awaiting trial." Often, as a matter of law, a judge will give a defendant 'credit for time served,' particularly when sentencing for misdemeanors. Example: Johnny Jumpstart was arrested for drunk driving and spent the night in jail before he was released on his own recognizance. Since the minimum sentence in his state was 48 hours, the judge will sentence him to that time, less 14 hours for time served. After lengthy waits in jail before trial, 'time served' may become very important to the defendant. In some cases, time served may earn credit at a different rate than regular incarceration. For example, the defendant may get credit for a multiple of the amount of time spent in remand, say 2 times, so that 2 months in remand gives 4 months credit toward the sentence.

— Freebase

Installment loan

Installment loan

An installment loan is a loan that is repaid over time with a set number of scheduled payments, normally only two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years. A mortgage, for example, is a type of installment loan. The term is most strongly associated with traditional consumer loans, originated and serviced locally, and repaid over time by regular payments of principal and interest. These “installment loans” are generally considered to be safe and affordable alternatives to payday and title loans, and to open ended credit such as credit cards. In 2007 the US Department of Defense exempted installment loans from legislation designed to prohibit predatory lending to service personnel and their families, acknowledging in its report the need to protect access to beneficial installment credit while closing down less safe forms of credit.

— Freebase

Prepaid mobile phone

Prepaid mobile phone

A prepaid mobile phone is a mobile phone for which credit is purchased in advance of service use. The purchased credit is used to pay for mobile phone services at the point the service is accessed or consumed. If there is no available credit then access to the requested service is denied by the mobile phone network. Users are able to top up their credit at any time using a variety of payment mechanisms. The alternative billing method is the post-paid mobile phone, where a user enters into a long-term or short term, billing arrangement with a mobile network operator or carriage service provider.

— Freebase

Transfer credit

Transfer credit

Transfer credit, credit transfer, or advanced standing are the terms used by colleges and universities for the procedure of granting credit to a student for educational experiences or courses undertaken at another institution. "Advanced standing" is also used to describe the status of a student granted credit, as distinct from normal course entrants who commence the stream of study at the beginning.

— Freebase

City ledger

City ledger

In hotel accounting, the city ledger is the collection of accounts belonging to non-registered guests. This is distinct from the transient ledger, which is the collection of accounts receivable for guests who are currently registered. The vast majority of accounts in the city ledger are accounts receivable. Included in the city ledger are accounts belonging to various companies that utilize the hotel for meeting space and for lodging travelling executives. Instead of billing separately for each individual service that the hotel provides, the charges are accumulated in the company's city ledger account. The hotel then periodically sends the bill to the company. The second major component of the city ledger are credit card accounts. When a guest uses a credit card, this transaction creates an account receivable for the hotel to be collected from the credit card company. This account receivable is recorded in the credit card company's city ledger account. As mentioned above, advance deposits are an example of an account payable found in the city ledger.

— Freebase

CRISIL

CRISIL

CRISIL or Credit Rating Information Services of India Limited is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL’s majority shareholder is Standard & Poor's, a division of McGraw-Hill Financial and provider of financial market intelligence. CRISIL’s businesses can be divided into three broad categories - Ratings, Research and Advisory. CRISIL Ratings has rated/assessed over 60,000 entities in India. Its rating capabilities span the entire range of debt instruments and it has worked across the corporate strata, from large corporates in the country to the SMEs. Under Research, CRISIL Global Research & Analytics serves global investment banks and financial institutions with high-end research, risk, analytics, equity and credit research services. Its credit research supports 80 per cent of the global structured finance market, and over 60 per cent of the global credit markets. The company's equity research covers over 90 per cent of the global trading volumes and 88 per cent of the global market capitalisation.

— Freebase

Working tax credit

Working tax credit

Working Tax Credit is a state benefit in the United Kingdom made to people who work and have a low income. It is a part of the current system of refundable tax credits introduced in April 2003 and is a means-tested benefit. Despite their name, tax credits are not to be confused with tax credits linked to a person's tax bill. Unlike most other benefits, it is paid by HM Revenue and Customs. WTC can be claimed by working individuals, childless couples and working families with dependent children. In addition, people may also be entitled to Child Tax Credit if they are responsible for any children. WTC and CTC are assessed jointly and families remain eligible for CTC even if where no adult is working or they have too much income to receive WTC. In 2010 the coalition government announced that the Working Tax Credit will, by 2017, be integrated into and replaced by the new Universal Credit.

— Freebase

Accredit

Accredit

to put or bring into credit; to invest with credit or authority; to sanction

— Webster Dictionary

Credit

Credit

the time given for payment for lands or goods sold on trust; as, a long credit or a short credit

— Webster Dictionary

Trust

Trust

to give credit to; to sell to upon credit, or in confidence of future payment; as, merchants and manufacturers trust their customers annually with goods

— Webster Dictionary

accredit

accredit

To put or bring into credit; to invest with credit or authority; to sanction.

— Wiktionary

money

money

Hard cash in the form of banknotes and coins, as opposed to cheques/checks, credit cards, or credit more generally.

— Wiktionary

trust

trust

To give credit to; to sell to upon credit, or in confidence of future payment.

— Wiktionary

derogatory

derogatory

A trade-line on a credit report that includes negative credit history.

— Wiktionary

debenture

debenture

A type of bond secured only by the general credit or promise to pay of the issuer, now commonly issued by large, well established corporations with adequate credit ratings.

— Wiktionary

acquiring financial institution

acquiring financial institution

An acquiring financial institution (or "acquirer") contracts with the bank and the merchant to enable credit card transactions. The acquirer deposits the credit card totals and debits the end-of-month processing fees from the merchants' accounts. Abbreviated: AFI.

— Wiktionary

credit default swap

credit default swap

A credit derivative contract between two counterparties, whereby the buyer (seller of risk) makes periodic payments to the seller (buyer of risk) in exchange for the right to a payoff if there is a default or other credit event in respect of a third party called reference entity.

— Wiktionary

nonprime

nonprime

Providing credit to borrowers that are more likely to default due to a poor credit history or other problems.

— Wiktionary

credit score

credit score

A measure of credit risk, usually for a consumer, calculated from credit information using a standardized formula.

— Wiktionary

Visa card

Visa card

A credit card by the credit card company Visa.

— Wiktionary

tradeline

tradeline

Any credit account as shown on a consumer credit report

— Wiktionary

SACCO

SACCO

Acronym of Savings and Credit Co-operative; a credit union.

— Wiktionary

compensating balance

compensating balance, offsetting balance

a minimum credit balance that a bank may require a borrower to keep on deposit as a condition for granting a loan; a common requirement for establishing a line of credit at a bank

— Princeton's WordNet

credit bureau

credit bureau

a private firm that maintains consumer credit data files and provides credit information to authorized users for a fee

— Princeton's WordNet

high-yield bond

junk bond, high-yield bond

a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit

— Princeton's WordNet

junk bond

junk bond, high-yield bond

a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit

— Princeton's WordNet

letter of credit

letter of credit

a document issued by a bank that guarantees the payment of a customer's draft; substitutes the bank's credit for the customer's credit

— Princeton's WordNet

offsetting balance

compensating balance, offsetting balance

a minimum credit balance that a bank may require a borrower to keep on deposit as a condition for granting a loan; a common requirement for establishing a line of credit at a bank

— Princeton's WordNet

Bill

Bill

bil, n. an account of money: a draft of a proposed law: a written engagement to pay a sum of money at a fixed date: a placard or advertisement: any written statement of particulars: in the criminal law of England, the formal name of a written accusation of serious crime preferred before a grand-jury.—n. Bill′-book, a book used in commerce in which an entry is made of all bills accepted and received.—n.pl. Bill′-brok′ers, persons who, being skilled in the money-market, the state of mercantile and personal credit, and the rates of exchange, engage, either on their own account or that of their employers, in the purchase and sale of foreign and inland bills of exchange and promissory notes: the business of Bill′-discount′ers, or discount-brokers, again, consists in discounting or advancing the amount of bills of exchange and notes which have some time to run before they come due, on the faith of the credit of the parties to the bill.—n. Bill′-cham′ber, a department of the Court of Session in Scotland which deals with summary business—so called because formerly both summonses and diligence or execution were for the most part commenced by a writ called a bill; Bill′-stick′er, one who sticks or posts up bills or placards.—Bill of adventure, a writing by a merchant stating that goods shipped by him, and in his name, are the property of another, whose adventure or chance the transaction is—the shipping merchant, on the other hand, undertaking to account to the adventurer for the produce; Bill of complaint, the name given in the English Court of Chancery, prior to the Judicature Act of 1873, to the formal statement of the facts and prayer for relief submitted by a plaintiff to the court; Bill of costs, an account stating in detail the charges and disbursements of an attorney or solicitor in the conduct of his client's business; Bill of exceptions, a statement of objections, by way of appeal, against the decision of a judge who is trying a case with a jury in the Court of Session; Bill of exchange, a document purporting to be an instrument of pecuniary obligation for value received, and which is employed for the purpose of settling a debt in a manner convenient to the parties concerned; Bill of fare, in a hotel, the list of dishes or articles of food; Bill of health, an official certificate of the state of health on board ship before sailing; Bill of lading, a paper signed by the master of a ship, by which he makes himself responsible for the safe delivery of the goods specified therein; Bill of mortality, an official account of the births and deaths occurring in a certain district within a given time; Bill of sale, in English law, a formal deed assigning personal property, the usual mode of transferring ships, and valuable as mercantile securities over stock-in-trade, furniture, &c.; Bill of sight, an entry of imported goods of which the merchant does not know the quantity or the quality; Bill of store, a license from the customs authorities to reimport British goods formerly exported; Bill of victualling, a list of necessary stores shipped from the bonded warehouse, or for drawback on board vessels proceeding on oversea voyages. [Through Low L. billa, from L. bulla, anything round, a knob, a seal appended to a charter, hence a document bearing a seal, &c. See Bull, an edict.]

— Chambers 20th Century Dictionary

Crack

Crack

krak, v.i. to utter a sharp sudden sound: to split: to boast: to chat.—v.t. to produce a sudden noise: to break into chinks: to split: to break partially or wholly: to open (a bottle).—n. a sudden sharp splitting sound: a chink: a flaw: a blow, a smack: friendly chat: (slang) housebreaking: a craze: one who has a craze: a pert boy.—adj. (coll.) excellent.—n. Crack′-brain, a crazy person.—adjs. Crack′-brained; Cracked, rent: damaged: crazy.—ns. Crack′er, one who or that which cracks: a boaster, a lie: the pin-tail duck: (U.S.) a thin crisp biscuit: a bonbon, or a small firework, exploding when pulled asunder: (U.S.) a poor white; Crack′-halt′er, Crack′-hemp (Shak.), Crack′-rope, one likely to be hanged.—adj. Crack′-jaw, of a word, hard to pronounce.—ns. Cracks′man, a burglar; Crack′-tryst, one who breaks an engagement.—Crack credit, to destroy one's credit; Crack tryst, to break an engagement; Crack up, to praise. [A.S. cracian, to crack; cf. Dut. kraken, Gael. crac.]

— Chambers 20th Century Dictionary

Mobile

Mobile

mō′bil, or mob′il, adj. that can be moved or excited.—n. Mobilisā′tion.—v.t. Mō′bilise, to put in readiness for service in war: to call into active service, as troops.—n. Mobil′ity, quality of being mobile: (slang) the mob.—Crédit mobilier, the system in banking of advancing money to the owners of movable property—as opposed to Credit foncier, on the security of real or immovable property. [Fr. mobiliser—L. mobilis.]

— Chambers 20th Century Dictionary

Aval

Aval

Aval, in Spain, is a joint commitment to payment of an obligation in favor of the creditor or beneficiary. It is granted by a third party, in case the principal debtor does not fulfil the obligation of payment of a credit title. The practice of requesting an aval from a prospective lender has become commonplace since the 2008 global financial crisis. According to the Oxford English Dictionary, the word is derived from the French à val; according to the Trésor de la langue française, it is probably an abbreviation of the formula à valoir. The endorsement implies that a third party, known as a surety or guarantor, is jointly liable for the full amount of the debt with the principal debtor. The third party commits himself to cover the payment of the amount of the credit title and its interest, in case the original debtor does not fulfil his or her obligation. Normally the prospective lender may require a guarantor for the loan if the prospective borrower's credit is inadequate. This assures the bank or other lender that, if the borrower defaults, the guarantor can be held responsible for the remainder of the loan left unpaid.

— Freebase

Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation operating as an independent agency created by the Banking Act of 1933. As of January 2013, it provides deposit insurance guaranteeing the safety of a depositor's accounts in member banks up to $250,000 for each deposit ownership category in each insured bank. As of September 30, 2012, the FDIC insured deposits at 7,181 institutions. The FDIC also examines and supervises certain financial institutions for safety and soundness, performs certain consumer-protection functions, and manages banks in receiverships. The FDIC receives no Congressional appropriations – it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. The FDIC does not provide deposit insurance for credit unions, which are insured by the National Credit Union Administration. Insured institutions are required to place signs at their place of business stating that "deposits are backed by the full faith and credit of the United States Government." Since the start of FDIC insurance on January 1, 1934, no depositor has lost any insured funds as a result of a failure.

— Freebase

Tax credit

Tax credit

A tax credit is a sum deducted from the total amount a taxpayer owes to the state. A tax credit may be granted for various types of taxes, such as an income tax, property tax, or VAT. It may be granted in recognition of taxes already paid, as a subsidy, or to encourage investment or other behaviors. In some systems tax credits are 'refundable' to the extent they exceed the relevant tax. Tax systems may grant tax credits to businesses or individuals, and such grants vary by type of credit.

— Freebase

Layaway

Layaway

Layaway is an agreement in which the seller reserves an item for a consumer until the consumer completes all the payments necessary to pay for that item. Rather than taking the item home and then repaying the debt on a regular schedule, as in most installment plans or hire purchases, the layaway customer does not receive the item until it is completely paid for. There is sometimes a fee associated, since the seller must "lay" the item "away" in storage until the payments are completed. Because there is little risk involved for the seller, layaway can be readily offered to those with bad credit. If the transaction is not completed, the item is returned to stock and the customer's money is returned minus a fee. The main advantage of layaway is that no interest is charged. In addition, the price is fixed, availability is guaranteed by reserving the item in stock, and an item being purchased as a gift can be kept secret. Consumers may also gain a sense of living within their means. Layaway became common during the Great Depression of the 1930s. It was widely withdrawn during the 1980s, as the ubiquity of credit cards decreased its utility. Layaway also got tagged as "ghetto financing". Wal-Mart announced in September 2006 that it would discontinue layaway service in all its stores, citing the decrease in demand and a rise in cost of implementation. However, in September 2011, Wal-Mart resumed the service due to the new financial difficulties imposed by the economy and the increased constraints on consumer credit. For the 2012 season, many retailers are heavily advertising their layaway service and offering it for free if all conditions are met. In contrast, Kmart has provided layaway in the United States for forty years, and was at one time the only major national discount retailer offering the service. Other large retailers offering layaway programs include Toys "R" Us, Burlington Coat Factory, Marshalls and T.J. Maxx. In Canada it is available from many businesses including bicycle shops, jewellers and adventure holidays.

— Freebase

Charge-off

Charge-off

A charge-off or chargeoff is the declaration by a creditor that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors will make this declaration at the point of six months without payment. In the United States, Federal regulations require creditors to charge-off installment loans after 120 days of delinquency, while revolving credit accounts must be charged-off after 180 days. The purpose of making such a declaration is to give the bank a tax exemption on the debt. Bad debts and even fraud are simply part of the cost of doing business. The charge-off, though, does not free the debtor of having to pay the debt. A charge-off is one of the most adverse factors that can be listed on a credit report. It will then be listed as such on the debtor's credit bureau reports The item will include relevant dates, and the amount of the bad debt. While a charge-off is considered to be "written off as uncollectable" by the bank, the debt is still legally valid, and remains as such after the fact. The creditor has the right to legally collect the full amount for the time periods permitted by the statutes of limitation based on the location of the bank and where the consumer resides. Depending on the location, this amount of time may be a certain number of years, or in some places, indefinitely. Methods of collection that can be used include contacts from internal collections staff, outside collection agencies, or if the amount is large, there is the possibility of a lawsuit or arbitration.

— Freebase

Collect on delivery

Collect on delivery

Collect on delivery is a financial transaction where the payment of products and/or services received is done at the time of actual delivery rather than paid-for in advance. The term is mainly applied to consumer products purchased from a third party, where payment is made to or collected by the deliverer from the recipient rather than the sender, in the way that a collect call is also charged to the recipient instead of the caller. The delivery company in turn remits the charge for the item itself to the company which shipped it, keeping only the portion which it charged for the shipping service. This type of transaction is better known as cash on delivery. However, as other forms of payment became more common, the word "cash" was replaced with the word "collect" to incorporate transactions with checks, credit cards or debit cards. Even with this, COD has become much less common now, and most companies will not ship this way. Originally, COD delivery was made when a company owns its own transportation means. That way the delivery person can collect on site. However, because USPS, UPS, FedEx, OnTrac, and other commercial shipping companies are often cheaper, most companies use COD to mean that the bill for the product is delivered with the product, and payment is expected immediately. Because of the commonality of credit cards and instant payment methods through the Internet, COD purchasing has become obsolete in most cases in the United States. However, it remains a standard method of payment for ordering products and services produced quickly and near the point of delivery; this is particularly common with the ordering of food, and it is the standard model for pizza delivery services, though some pizza restaurants require a credit card number before they will send a delivery, due to fraud and prank callers. But it helps to establish the credibility of online retailer as the consumer pays only after taking delivery of ordered item. COD remains in general use in other countries, for example, Japan.

— Freebase

Roman Holiday

Roman Holiday

Roman Holiday is a 1953 romantic comedy directed and produced by William Wyler. It stars Gregory Peck as a reporter and Audrey Hepburn as a royal princess out to see Rome on her own. Hepburn won an Academy Award for Best Actress for her performance; the screenplay and costume design also won. It was written by John Dighton and Dalton Trumbo, though with Trumbo on the Hollywood blacklist, he did not receive a credit; instead, Ian McLellan Hunter fronted for him. Trumbo's credit was reinstated when the film was released on DVD in 2003. On December 19, 2011, full credit for Trumbo's work was restored. The film was screened in the 14th Venice film festival within the official program. In the 1970s, both Peck and Hepburn were approached with the idea of a sequel, but the project never came to fruition. The film was remade for television in 1987 with Tom Conti and Catherine Oxenberg, who is herself a member of a European royal family. In 2012 a musical version of Roman Holiday, following the plot while using the songs of Cole Porter, was presented in Minneapolis at the Guthrie Theater. The cast included Stephanie Rothenberg as Princess Anne and Edward Watts as Joe Bradley.

— Freebase

Credit note

Credit note

A credit note or credit memorandum is a commercial document issued by a seller to a buyer. The seller usually issues a credit memo for the same or lower amount than the invoice, and then repays the money to the buyer or sets it off against a balance due from other transactions. It can also be a document from a bank to a depositor to indicate the depositor's balance is being in event other than a deposit, such as the collection by the bank of the depositor's note receivable.

— Freebase

Creditor

Creditor

A creditor is a party that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption that the second party will return an equivalent property and service. The second party is frequently called a debtor or borrower. The first party is the creditor, which is the lender of property, service or money. The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgage loans. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor. The term creditor derives from the notion of credit. In modern America, credit also refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.

— Freebase

Freddie Mac

Freddie Mac

The Federal Home Loan Mortgage Corporation, known as Freddie Mac, is a public government-sponsored enterprise, headquartered in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is an acronym of the company's full name that had been adopted officially for ease of identification. On September 7, 2008, Federal Housing Finance Agency director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA. The action has been described as "one of the most sweeping government interventions in private financial markets in decades". Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.

— Freebase

Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is Crédit Agricole's corporate and investment banking entity. With a staff of 12,000 employees in 32 countries, Crédit Agricole CIB is active in a broad range of capital markets, investment banking and financing activities. Clients are primarily corporates, governments, and banks, with a small footprint in the investor segment.

— Freebase

MasterCard

MasterCard

MasterCard Incorporated is an American multinational financial services corporation headquartered in the MasterCard International Global Headquarters, Purchase, New York, United States. The Global Operations Headquarters is located in O'Fallon, Missouri, United States, a suburb of Saint Louis, Missouri. Throughout the world, its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the "MasterCard" brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, MasterCard Worldwide was a cooperative owned by the 25,000+ financial institutions that issue its branded cards. MasterCard, originally known as Interbank/Master Charge, was created by several California banks as a competitor to the BankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc.. In 1966-1979, it was called "Interbank" and "Master Charge".

— Freebase

Online banking

Online banking

Online banking allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society. To access a financial institution's online banking facility, a customer having personal Internet access must register with the institution for the service, and set up some password for customer verification. The password for online banking is normally not the same as for telephone banking. Financial institutions now routinely allocate customer numbers, whether or not customers intend to access their online banking facility. Customer numbers are normally not the same as account numbers, because a number of accounts can be linked to the one customer number. The customer will link to the customer number any of those accounts which the customer controls, which may be cheque, savings, loan, credit card and other accounts. Customer numbers will also not be the same as any debit or credit card issued by the financial institution to the customer. To access online banking, the customer would go to the financial institution's website, and enter the online banking facility using the customer number and password. Some financial institutions have set up additional security steps for access, but there is no consistency to the approach adopted.

— Freebase

Morning Dew

Morning Dew

"Morning Dew", also known as " Morning Dew", is a post-apocalyptic folk-rock song written by Canadian folk singer Bonnie Dobson and made famous by the Grateful Dead. The song is a dialogue between the last man and woman left alive following an apocalyptic catastrophe: Dobson has stated that the initial inspiration for "Morning Dew" was the film On the Beach which is focused on the survivors of virtual global annihilation by nuclear holocaust. The actual writing of the song occurred in 1961 while Dobson was staying with a friend in Los Angeles: Dobson would recall how the guests at her friend's apartment were speculating about a nuclear war's aftermath and "after everyone went to bed, I sat up and suddenly I just started writing this song [although] I had never written [a song] in my life". Dobson premiered "Morning Dew" in her set at the inaugural Mariposa Folk Festival that year with the song's first recorded version being on Dobson's At Folk City live album in 1962. Dobson would not record a studio version of the song until 1969, that being for her Bonnie Dobson album. "Morning Dew" was not published until 1964 when Jac Holzman of Elektra Records contacted Dobson with an offer to sign her as a songwriter as Elektra artist Fred Neil had heard "Morning Dew" and wished to record it. The first studio recording of "Morning Dew" appeared on the 1964 album Tear Down The Walls by Fred Neil and Vince Martin. It was this version which introduced the song to Tim Rose who in 1966 recorded "Morning Dew" for his self-titled debut album after soliciting permission to revise the song with a resultant co-writing credit. Dobson agreed without having any intended revision specified and was subsequently much discomfited to learn that the sole lyrical revision in Rose's version was that the original line "Take me for a walk in the morning dew" became "Walk me out in the morning dew", a change already apparent in Fred Neil's recording of the song. As of the February 1967 release of the Tim Rose single version of "Morning Dew" the standard songwriting credit for the song has been Bonnie Dobson and Tim Rose: Dobson, who in 1998 averred she'd never met Rose, has stated that she's received 75% songwriting royalty as she retains sole writing credit for the song's music.

— Freebase

Summer school

Summer school

Summer school is a school, or a program generally sponsored by a school or a school district, that teaches and students do lessons during the summer vacation . In elementary and middle school, these programs are usually non-academic, though some are used for remedial instruction. In high school, college or university, students can enroll in classes for credit to be taken into account in their grade point average or their transcript. Generally, this credit is in one of two categories: remediation or advancement. For remediation, the summer school is used to make up credits lost through absence or failure. For advancement, the summer school is used to obtain credit for classes to accelerate progress toward a degree or to lessen the load of courses during the regular school year. Many universities offer short-term summer courses to attract both local and international students, and these programs are often surrounded by social activities. In academia, the term can also refer to a type of conference. Typically, established academics will give presentations on advanced topics in a field to postgraduate students. This type of summer school is often organized at a national or international level, and no credits are awarded. Also, a college or university sometimes offers a summer program for teachers or other professional workers wishing to round out their professional or general education. Some summer schools are for the general public involving no examinations and are not for degree purposes.

— Freebase

Installment credit

Installment credit

Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit.

— Freebase

Malinvestment

Malinvestment

Malinvestment is a concept developed by the Austrian School of economic thought, that refers to investments of firms being badly allocated due to what they assert to be an artificially low cost of credit and an unsustainable increase in money supply, often blamed on a central bank. This concept is central to the Austrian business cycle theory. Austrian economists such as Nobel laureate F. A. Hayek advocate the idea that malinvestment occurs due to the combination of fractional reserve banking and artificially low interest rates misleading relative price signals which eventually necessitate a corrective contraction—a boom followed by a bust. The concept dates back to at least 1867. In 1940, Ludwig von Mises wrote, "The popularity of inflation and credit expansion, the ultimate source of the repeated attempts to render people prosperous by credit expansion, and thus the cause of the cyclical fluctuations of business, manifests itself clearly in the customary terminology. The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression. People rebel against the insight that the disturbing element is to be seen in the malinvestment and the overconsumption of the boom period and that such an artificially induced boom is doomed. They are looking for the philosophers' stone to make it last."

— Freebase

Net metering

Net metering

Net metering is an electricity policy for consumers who own renewable energy facilities or V2G electric vehicles. "Net", in this context, is used in the sense of meaning "what remains after deductions" — in this case, the deduction of any energy outflows from metered energy inflows. Under net metering, a system owner receives retail credit for at least a portion of the electricity they generate. Most electricity meters accurately record in both directions, allowing a no-cost method of effectively banking excess electricity production for future credit. However, the rules vary significantly by country and possibly state/province: if net metering is available, if and how long you can keep your banked credits, and how much the credits are worth. Most net metering laws involve monthly roll over of kWh credits, a small monthly connection fee, require monthly payment of deficits, and annual settlement of any residual credit. Unlike a feed-in tariff or time of use metering, net metering can be implemented solely as an accounting procedure, and requires no special metering, or even any prior arrangement or notification.

— Freebase

Home equity loan

Home equity loan

A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. Home equity loans are often used to finance major expenses such as home repairs, medical bills or college education. A home equity loan creates a lien against the borrower's house, and reduces actual home equity. Home equity loans come in two types: home equity term, which is a fixed term, and home equity line of credit which is variable. Most home equity loans require good to excellent credit history, and reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types: closed end and open end. Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. Home equity loan can be used as a person's main mortgage in place of a traditional mortgage, however you can not purchase a home using a home equity loan, you can only use a home equity loan to refinance. In the United States, in most cases it is possible to deduct home equity loan interest on one's personal income taxes.

— Freebase

Payday loan

Payday loan

A payday loan is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday". The loans are also sometimes referred to as "cash advances", though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states. To prevent usury, some jurisdictions limit the annual percentage rate that any lender, including payday lenders, can charge. Some jurisdictions outlaw payday lending entirely, and some have very few restrictions on payday lenders. For a $15 charge on a $100 2-week payday loan, the annual percentage rate is 26 × 15% = 390%; the usefulness of an annual rate has been debated because APRs are designed to enable consumers to compare the cost of long-term credit and may not be meaningful in cases where the loan will be outstanding for only a few weeks. Nevertheless, careful scrutiny of the particular measure of loan cost quoted is necessary to make meaningful comparisons.

— Freebase

Constructive possession

Constructive possession

Constructive possession is a legal fiction to describe a situation where an individual has actual control over chattels or real property without actually having physical control of the same assets. At law, a person with constructive possession stands in the same legal position as a person with actual possession. For example, if one's car is sitting in one's driveway, one has physical possession of the car. However, any person with the key has constructive possession, as they may take physical possession at any time without further consent from one. Constructive possession is an important concept in both the criminal law regarding theft and embezzlement, and the civil law regarding possession of land and chattels. For example, if someone steals your credit card number, the actual credit card never leaves your actual possession, but the person who has stolen the number does have constructive possession, and could most likely be charged with theft of your credit card information. Constructive possession is also an important concept in cases of seizure of goods by private or government authorities. Take, for example, a large piece of equipment. Should money be loaned against the value of the equipment, and the loan goes into default, the creditor may find it difficult to actually remove the equipment in a timely manner. However, it may by notice to the borrower take constructive possession, which effectively prevents the borrower from further using the equipment pending its removal. Similarly, when a landlord exercises a contractual remedy of distraint of goods for unpaid rent, the landlord need not remove the goods from the premises, but may take constructive possession of the goods through a simple declaration. At that point, if the tenant attempted to remove them, the tenant would be guilty of theft.

— Freebase

K&B

K&B

K&B was a drug store chain headquartered in New Orleans. Founded in 1905, it expanded to have stores in the United States Gulf Coast region until it was purchased by Rite Aid in 1997. Gustave Katz partnered with Sydney J. Besthoff at 732 Canal Street, New Orleans in 1905, and continually expanded through the 20th century to become a regional chain. It was well known for its unique purple color, with everything in the store being "K&B Purple". This color became well known as a descriptive term in the local lexicon - as one might describe something as "forest green", New Orleanians still describe a particular shade of purple as "K&B purple." K&B had many of its own private label items, including household goods such as logo ice chests and garbage cans, its own liquor line with names typically beginning with the letters K&B and the YENDIS Liquor brand, and for a time a brand of beer. While the majority of K&B brand products were inexpensive non-descript products locally regarded as just above a generic brand, the line also included well regarded products such as the much beloved line of K&B ice cream; the distinctive K&B Creole Cream Cheese ice cream and it's "talking ice cream freezer display case" TV commercials were local favorites. K&B had its own credit card operation too and since its credit policy was so stringent it became a badge of honor to be awarded a K&B credit card.

— Freebase

Access to finance

Access to finance

Access to finance refers to the possibility that individuals or enterprises can access financial services, including credit, deposit, payment, insurance, and other risk management services. Those who involuntarily have no or only limited access to financial services are referred to as the unbanked or underbanked, respectively. Accumulated evidences have shown that financial access provides credit for the most promising firms promotes growth for enterprises through the provision of credit in the most promising firms, encourages more start ups, and enables incumbent firms to grow by exploiting growth and investment opportunities. It brings benefit to the economy benefits the economy in general by accelerating economic growth, intensifying competition, as well as boosting the demand for labor. In turn, Tthis helps those at the raises income for those in the lower end of the income distribution in reducing income inequality and poverty. The lack of financial access limits the range of services and credits for household and enterprises. Poor individuals and small enterprises need to rely on their personal wealth or internal resources to invest in their education and businesses, which limits their full potential and leading to the cycle of persistent inequality and diminished growth.

— Freebase

Trade finance

Trade finance

Trade finance is related to international trade. The term Trade Finance which means, financing a Trade. For a trade to happen, we have a seller to sell the goods and we have a buyer to buy the goods. Various intermediateries such as, can facilitate the Trade by financing the trade. While a seller can require the purchaser to prepay for goods shipped, the purchaser may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support. For example, the importer's bank may provide a letter of credit to the exporter providing for payment upon presentation of certain documents, such as a bill of lading. The exporter's bank may make a loan to the exporter on the basis of the export contract. Other forms of trade finance can include Documentary collection, trade credit insurance, export factoring, and forfaiting. Some forms are specifically designed to supplement traditional financing. In many countries, trade finance is often supported by quasi-government entities known as export credit agencies that work with commercial banks and other financial institutions.

— Freebase

Full Faith and Credit Clause

Full Faith and Credit Clause

Article IV, Section 1 of the United States Constitution, known familiarly as the "Full Faith and Credit Clause", addresses the duties that states within the United States have to respect the "public acts, records, and judicial proceedings of every other state." According to the Supreme Court, there is a difference between the credit owed to laws as compared to the credit owed to judgments. Judgments are generally entitled to greater respect than laws, in other states. At present, it is widely agreed that this Clause of the Constitution has little impact on a court's choice of law decision, although this Clause of the Constitution was once interpreted differently.

— Freebase

Cortera

Cortera

Cortera, headquartered in Boca Raton, Florida, USA, is a provider of credit information on businesses and corporations. The company provides business information with a database containing a number of private and public U.S. companies, analytics about each of those companies, and workflow software. Typical users include business analysts, sales and marketing experts and credit & collections professionals who need to research their prospects, customers, and partners. Principal customers include transportation providers, manufacturers and wholesalers, telcos, banks, and other credit and financial institutions.

— Freebase

StraighterLine

StraighterLine

StraighterLine is a U.S. educational company that offers low-price, online higher education courses that are equivalent to general courses required for a bachelor's degree. The American Council On Education’s College Credit Recommendation Service has evaluated and recommended college credit for StraighterLine courses. The company is itself unaccredited, but has partnerships with a number of accredited colleges and universities that accept its courses for credit.

— Freebase

Foundation degree

Foundation degree

The Foundation Degree is a vocational qualification in higher education, introduced by the government of the United Kingdom in September 2001, which is available in England, Wales and Northern Ireland. Foundation degrees are intended to give a basic knowledge in a subject to enable the holder to go on to employment or further study in that field. They are normally offered by universities and further education colleges working in partnership. It is at Level 5 in the qualifications framework. This makes it similar in level to the associate's degree awarded in the United States, and sometimes in the United Kingdom. It is below the level of an honours degree Courses are typically two years full-time study or 3 to 4 years part-time study and are offered both by universities and colleges of higher education. It also sits on the same level as the pre-existing Higher National Diploma and Certificate However, unlike the HND, it stands as a degree, and has a defined value of 240 Credit Accumulation and Transfer Scheme points in the UK system, or 120 ECTS-credits in the European Credit Transfer System, whereas the credit points value of the HND depends on the receiving institution.

— Freebase

Pre-approval

Pre-approval

In lending, pre-approval has two meanings: The first is that a lender, via public or proprietary information, feels that a potential borrower is completely credit worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it. This rarely happens in the financial services industry, and when it does happen, it is usually loaded with fine print that is not immediately disclosed. Usually, what happens is pre-qualification, instead. Although, to a typical consumer, "you're pre-approved" means "you already passed the approval process and therefore are guaranteed to be immediately granted the loan if you apply," the literal meaning is different. The literal meaning is "at a stage before approval." Thus, pre-approved creates no obligation whatsoever on the lender and no rights whatsoever to the potential borrower. "Pre-approved" is thus a popular advertising catch phrase to induce people to apply for a loan. The second meaning relates to mortgage lending. People interested in buying a house can often approach a lender, who will check their credit history and verify their income, and then can provide assurances they would be able to get a loan up to a certain amount. This pre approval can then help a buyer find a home that is within their loan amount range. Buyers can ask for a letter of pre approval from the lender, and when shopping for a home can have possibly an advantage over others because they can show the seller that they are more likely to be able to buy the house. Often real estate agents prefer to work with a buyer who has a pre approval as it demonstrates that they are well-qualified to receive financing and are serious about buying a home. A pre approval is based on the documentation the borrower supplies at the time of application, and any actual eligibility to receive the pre approved loan depends on the terms and conditions of the pre approval and ability to secure the loan before the pre approval expires.

— Freebase

Fair Credit Billing Act

Fair Credit Billing Act

The Fair Credit Billing Act is a United States federal law enacted in 1975 as an amendment to the Truth in Lending Act. Its purpose is to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open end" credit accounts, such as credit card or charge card accounts.

— Freebase

Fair Credit Reporting Act

Fair Credit Reporting Act

The Fair Credit Reporting Act is a United States federal law that regulates the collection, dissemination, and use of consumer information, including consumer credit information. Along with the Fair Debt Collection Practices Act, it forms the base of consumer credit rights in the United States. It was originally passed in 1970, and is enforced by the US Federal Trade Commission and private litigants.

— Freebase

South Sea Bubble

South Sea Bubble

the name given to the disastrous financial project set on foot by Harley (q. v.) to relieve the national debt and restore public credit, which produced an unparalleled rush of speculation, ending in the ruin of thousands of people. Through the efforts of Harley a company of merchants was induced in 1711 to buy up the floating national debt of £10,000,000 on a government guarantee of 6 per cent. interest, and a right to a monopoly of trade in the South Seas. The shares rose by leaps and bounds as tales of the fabulous wealth of the far South Seas circulated, till, in 1720, £200 shares were quoted at £1000; earlier in the same year the company had taken over the entire national debt of upwards of 30 millions. In the craze for speculation which had seized the public hundreds of wild schemes were floated. At length the "Bubble" burst. The chairman and several directors of the company sold out when shares had reached £1000; suspicion followed, confidence vanished, stock fell, and in a few days thousands from end to end of the country were bewailing their ruin. The private estates of the fraudulent directors were confiscated for the relief of the sufferers. To Sir Robert Walpole belongs the credit of extricating the finances of the country from the muddle into which they had fallen.

— The Nuttall Encyclopedia

StraighterLine

StraighterLine

StraighterLine has been recognized as a revolutionizing force in education by major news organizations and the U.S. Chamber of Commerce for offering students online courses that earn real college credit for just $99 a month. Fast Company named StraighterLine one of the "10 Most Innovative Companies in Education."In order to facilitate the award of credit, StraighterLine has forged partnerships with leading accredited online colleges and universities. A student ultimately earns a degree from those institutions but realizes tremendous savings and convenience by starting with StraighterLine.StraighterLine's courses are evaluated and recommended by the American Council on Education's College Credit Recommendation Service (ACE CREDIT). In addition to the institutions with which StraighterLine has a direct relationship, more than 300 other schools are reported to have accepted StraighterLine coursework for transfer credit.Currently, StraighterLine offers 38 entry-level college courses online in the Sciences, Humanities, English, Math and Business.

— CrunchBase

Money

Money

(Economics) Any form of wealth which affects a person's propensity to spend, such as checking accounts or time deposits in banks, credit accounts, letters of credit, etc. Various aggregates of money in different forms are given different names, such as M-1, the total sum of all currency in circulation plus all money in demand deposit accounts (checking accounts).

— GCIDE

Financial Support

Financial Support

The provision of monetary resources including money or capital and credit; obtaining or furnishing money or capital for a purchase or enterprise and the funds so obtained. (From Random House Unabridged Dictionary, 2d ed.)

— U.S. National Library of Medicine

Inflation, Economic

Inflation, Economic

An increase in the volume of money and credit relative to available goods resulting in a substantial and continuing rise in the general price level.

— U.S. National Library of Medicine

Patient Credit and Collection

Patient Credit and Collection

Accounting procedures for determining credit status and methods of obtaining payment.

— U.S. National Library of Medicine

Plagiarism

Plagiarism

Passing off as one's own the work of another without credit.

— U.S. National Library of Medicine

credit review

credit review

An assessment of the credit profile of a person conducted periodically by a creditor that has extended the person credit.

— Editors Contribution

creditworthy

creditworthy

The ability to earn an income, repay a form of credit or loan or money a person, business, company or organization has or can generate through evidence so they can repay a form of credit given them to or a loan they have applied for.

— Editors Contribution

Credit Sesame

Credit Sesame

Credit Sesame is a new free online tool that easily gives you the best way to save money on your mortgage and loans by unlocking your credit potential. We give you the tools to take control of your finances, receive unbiased advice, borrow smarter, and monitor your credit and debt. Within minutes, our patent-pending technology analyzes your entire debt situation against thousands of loans from major financial institutions, to find the most optimal and pre-qualified loan solutions for your financial goals. Credit Sesame proactively monitors market changes and your financial picture to deliver just in time alerts and product recommendations to maximize your savings.

— CrunchBase

Toodalu

Toodalu

Turn everyday purchases into donations for your favorite causes! Toodalu empowers social giving and saving when you shop, without any hassle! We give you the opportunity to save money, explore local businesses, create social connections, and support charitable organizations… all through the simple credit card purchases you make everyday! We're a FREE rewards program that creates saving for you and donations for your cause.Shop at any Toodalu merchant partner location and for every purchase you make, Toodalu will provide you:

  • 5% cash back on each purchase.
  • 5% charitable donation given by Toodalu.
And as a bonus, you receive:
  • 5% cash back on each purchase made by your teammates.
Simply link any Amex, Discover, MasterCard, or Visa credit or debit card and shop with that card at any Toodalu partner location. From restaurants to bars, to beauty salons and boutiques, there are locations for everyone to enjoy and there are never any coupons or barcodes to hassle with. When you accumulate $10 or more in cash back savings, we will automatically put that amount directly onto your credit card statement! That's right, you don't need to do anything except than watch your monthly credit card bill shrink.Toodalu means that you can do well for yourself by doing good for others. Your spending means that you can direct a cash donation by Toodalu to the charity of your choice.

— CrunchBase

Chargeback

Chargeback

Chargeback is the return of funds to a consumer, forcibly initiated by the issuing bank of the instrument used by a consumer to settle a debt. Specifically, it is the reversal of a prior outbound transfer of funds from a consumer's bank account, line of credit, or credit card. Chargebacks also occur in the distribution industry. This type of chargeback occurs when the supplier sells a product at a higher price to the distributor than the price they have set with the end user. The distributor then submits a chargeback to the supplier so they can recover the money lost in the transaction.

— Freebase

Interest

Interest

Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets. It is most commonly the price paid for the use of borrowed money, or money earned by deposited funds. When money is borrowed, interest is typically paid to the lender as a percentage of the principal, the amount owed to the lender. The percentage of the principal that is paid as a fee over a certain period of time is called the interest rate. A bank deposit will earn interest because the bank is paying for the use of the deposited funds. Assets that are sometimes lent with interest include money, shares, consumer goods through hire purchase, major assets such as aircraft, and even entire factories in finance lease arrangements. The interest is calculated upon the value of the assets in the same manner as upon money. Interest is compensation to the lender, for a risk of principal loss, called credit risk; and b forgoing other investments that could have been made with the loaned asset. These forgone investments are known as the opportunity cost. Instead of the lender using the assets directly, they are advanced to the borrower. The borrower then enjoys the benefit of using the assets ahead of the effort required to pay for them, while the lender enjoys the benefit of the fee paid by the borrower for the privilege. In economics, interest is considered the price of credit.

— Freebase

Inland Revenue

Inland Revenue

The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation, including income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, petroleum revenue tax and stamp duty. More recently, the Inland Revenue also administered the Tax Credits schemes, whereby monies, such as Working Tax Credit and Child Tax Credit, are paid by the Government into a recipient's bank account or as part of their wages. The Inland Revenue was also responsible for the payment of child benefit. The Inland Revenue was merged with HM Customs and Excise to form HM Revenue and Customs which came into existence on 18 April 2005. The former Inland Revenue is thus now part of HM Revenue and Customs, but it is still the name by which the tax gathering department of government is commonly known by British people and is often referred to as "the Tax Man".

— Freebase

Prepayment of loan

Prepayment of loan

Prepayment is early repayment of a loan by a borrower. In the case of a mortgage-backed security, prepayment is perceived as a risk, because mortgage debts are often paid off early in order to incur lower total interest payments through cheaper refinancing. The new financing may be cheaper because the borrower's credit rating has improved or because interest rates are lower, but in either case, the payments that would have been made to the MBS investor would be above market rates. Redeeming such loans early through prepayment reduces the upside of credit & interest rate variance in an MBS. As these variances head lower borrowers lose the incentive to refinance. The fact that MBS-holders are exposed to downside prepayment risk, but rarely benefit from it, means that these bonds must pay a slightly higher interest rate than similar bonds without prepayment risk, to be attractive investments. To compensate for the prepayment risk, a prepayment penalty clause is often included into the loan contract.

— Freebase

Prepayment for service

Prepayment for service

Prepaid refers to services paid for in advance. Examples include postage stamps, tolls, transit cards like the Greater London Oyster card, pay as you go cell phones, and stored-value cards such as gift cards and preloaded credit cards. Prepaid services and goods are sometimes targeted to marginal customers by retailers. Prepaid options can have substantial cost reductions over postpaid counterparts because they allow customers to monitor and budget usage in advance. Unlike postpaid or contract based services, prepaid accounts can be obtained with cash. As a result, they can be established by people who have minimal identification or poor credit ratings. Minors, immigrants, students, defaulters, and those on low incomes are typical prepaid customers.

— Freebase

Hire purchase

Hire purchase

Hire purchase is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. It was developed in the United Kingdom and can now be found in Australia, China, India, Jamaica, Japan, Malaysia, New Zealand, and South Africa. It is also called closed-end leasing. In cases where a buyer can not afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a not rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price or return the goods to the owner. In Canada and the United States, a hire purchase is termed an installment plan; other analogous practices are described as closed-end leasing or rent to own. If the buyer defaults in paying the installments, the owner may repossess the goods, a vendor protection not available with unsecured-consumer-credit systems. HP is frequently advantageous to consumers because it spreads the cost of expensive items over an extended time period. Business consumers may find the different balance sheet and taxation treatment of hire-purchased goods beneficial to their taxable income. The need for HP is reduced when consumers have collateral or other forms of credit readily available.

— Freebase

Debit card

Debit card

A debit card is a plastic payment card that provides the cardholder electronic access to his or her bank account at a financial institution. Some cards have a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a payee's designated bank account. The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary account number is assigned exclusively for use on the Internet and there is no physical card. In many countries, the use of debit cards has become so widespread that their volume has overtaken or entirely replaced cheques and, in some instances, cash transactions. The development of debit cards, unlike credit cards and charge cards, has generally been country specific resulting in a number of different systems around the world, which were often incompatible. Since the mid-2000s, a number of initiatives have allowed debit cards issued in one country to be used in other countries and allowed their use for internet and phone purchases. Unlike credit and charge cards, payments using a debit card are immediately transferred from the cardholder's designated bank account, instead of them paying the money back at a later date.

— Freebase

Voice phishing

Voice phishing

Voice phishing is the criminal practice of using social engineering over the telephone system, most often using features facilitated by Voice over IP, to gain access to private personal and financial information from the public for the purpose of financial reward. The term is a combination of "voice" and phishing. Voice phishing exploits the public's trust in landline telephone services, which have traditionally terminated in physical locations known to the telephone company, and associated with a bill-payer. The victim is often unaware that VoIP makes formerly difficult-to-abuse tools/features of caller ID spoofing, complex automated systems, low cost, and anonymity for the bill-payer widely available. Voice phishing is typically used to steal credit card numbers or other information used in identity theft schemes from individuals. Voice phishing is very hard for legal authorities to monitor or trace. To protect themselves, consumers are advised to be highly suspicious when receiving messages directing them to call and provide credit card or bank numbers. When in doubt, calling a company's telephone number listed on billing statements or other official sources is recommended instead of calling numbers from messages of dubious authenticity.

— Freebase

Houdini

Houdini

Houdini is the fifth album by American sludge metal band Melvins, released in 1993 on Atlantic Records. The album was the band's major label debut after releasing their previous albums on the independent label Boner Records. The album features a cover of the 1974 KISS song "Goin' Blind". The songs "Hooch" and "Honey Bucket" were released as singles with accompanying music videos. "Night Goat" is a re-recording of a song the band had released as a single in 1992. Kurt Cobain is given co-production credit alongside the Melvins on six tracks as well as credit for guitar on the song "Sky Pup" and percussion on the song "Spread Eagle Beagle". Speaking to Kerrang! in 2008, King Buzzo remembered: In 2005 the album was performed live in its entirety as part of the All Tomorrow's Parties-curated Don't Look Back series, as well as at San Miguel Primavera Sound in 2007. Another live performance of the album was released as A Live History of Gluttony and Lust in 2006. Though the album's liner notes list Lorax as the band's bassist, she does not appear to have played on the album at all. Says Osborne: "This album is mostly just me and Dale Crover. Either I played bass or he did on almost all of it regardless of what the credits say…"

— Freebase

Payphone

Payphone

A payphone is a public telephone, often located in a telephone booth or a privacy hood, with pre-payment by inserting money, a credit or debit card, or a telephone card. Payphones are often found in public places, transportation hubs such as airports or train stations, convenience stores, malls, casinos, and on street corners. By agreement with the landlord, either the phone company pays rent for the location and keeps the revenue, or the landlord pays rent for the phone and shares the revenue. Some payphones, particularly at gas stations, are mounted in drive-up structures that can be used without leaving the vehicle. Payphone revenues have sharply declined in many places, largely due to the increased usage of mobile phones. Payphone providers have sometimes tried to reverse the decline in usage by offering additional services such as SMS and Internet access, thus making their phone booths into Internet kiosks. The abandonment of payphones by telephone companies has angered some people who consider them a communication staple for low-income and low-credit consumers. In particular, payphones are useful for foreign or generally non-local travellers who need to place local calls, as well as those who simply don't like or cannot afford mobile phones.

— Freebase

Personal identification number

Personal identification number

A personal identification number is a secret numeric password shared between a user and a system that can be used to authenticate the user to the system. Typically, the user is required to provide a non-confidential user identifier or token and a confidential PIN to gain access to the system. Upon receiving the user ID and PIN, the system looks up the PIN based upon the user ID and compares the looked-up PIN with the received PIN. The user is granted access only when the number entered matches with the number stored in the system. Hence, despite the name, a PIN does not personally identify the user. PINs are most often used for automated teller machines but are increasingly used at the point of sale, for debit cards and credit cards. Throughout Europe and Canada the traditional in-store credit card signing process is increasingly being replaced with a system in which the customer is asked to enter their PIN instead of signing. In the UK and Ireland this goes under the term 'Chip and PIN', since PINs were introduced at the same time as EMV chips on the cards. In other parts of the world, PINs have been used before the introduction of EMV.

— Freebase

Alexandre Yersin

Alexandre Yersin

Alexandre Emile Jean Yersin was a Swiss and French physician and bacteriologist. He is remembered as the co-discoverer of the bacillus responsible for the bubonic plague or pest, which was later renamed in his honour. Yersin was born in 1863 in Aubonne, Canton of Vaud, Switzerland, to a family originally from France. From 1883 to 1884, Yersin studied medicine at Lausanne, Switzerland; and then at Marburg, Germany and Paris. In 1886, he entered Louis Pasteur's research laboratory at the Ecole Normale Supérieure, by invitation of Emile Roux, and participated in the development of the anti-rabies serum. In 1888 he received his doctorate with a dissertation entitled Étude sur le Développement du Tubercule Expérimental and spent two months with Robert Koch in Germany. He joined the recently-created Pasteur Institute in 1889 as Roux's collaborator, and discovered with him the diphtheric toxin. In order to practice medicine in France, Yersin applied for and obtained French nationality in 1888. Soon afterwards, he left for French Indochina in Southeast Asia as a physician for the Messageries Maritimes company, on the Saigon-Manila line and then on the Saigon-Haiphong line. He participated in one of the Auguste Pavie missions. In 1894 Yersin was sent by request of the French government and the Pasteur Institute to Hong Kong, to investigate the Manchurian Pneumonic Plague epidemic, and there, in a small hut next to the institute, he made his greatest discovery, that of the pathogen which causes the disease. Dr. Kitasato Shibasaburō, also in Hong Kong, had also identified a bacterium several days earlier. There is controversy wether this was the same, pneumococci or a mix of the two. Because Kitasato's initial reports were vague and somewhat contradictory, some give Yersin sole credit for the discovery; however, a thorough analysis of the morphology of the organism discovered by Kitasato has determined that, while Yersin made his discovery on June 20th, "we are confident that Kitasato had examined the plague bacillus in Hong Kong in late June and early July 1894" and "should not be denied this credit". Yersin was also able to demonstrate for the first time that the same bacillus was present in the rodent as well as in the human disease, thus underlining the possible means of transmission. This important discovery was communicated to the French Academy of Sciences in the same year, by his colleague Emile Duclaux, in a classic paper titled La Peste Bubonique A Hong-Kong.

— Freebase

Refinancing

Refinancing

Refinancing may refer to the replacement of an existing debt obligation with a debt obligation under different terms. The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as, inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower's credit worthiness, and credit rating of a nation. In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage. If the replacement of debt occurs under financial distress, refinancing might be referred to as debt restructuring. A loan might be refinanced for various reasons: ⁕To take advantage of a better interest rate ⁕To consolidate other debt into one loan ⁕To reduce the monthly repayment amount ⁕To reduce or alter risk ⁕To free up cash

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Identity theft

Identity theft

Identity theft is a form of stealing someone's identity in which someone pretends to be someone else by assuming that person's identity, typically in order to access resources or obtain credit and other benefits in that person's name. The victim of identity theft can suffer adverse consequences if they are held accountable for the perpetrator's actions. Identity theft occurs when someone uses another's personally identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or other crimes. The term identity theft was coined in 1964 however it is not literally possible to steal an identity—less ambiguous terms are identity fraud or impersonation. "Determining the link between data breaches and identity theft is challenging, primarily because identity theft victims often do not know how their personal information was obtained," and identity theft is not always detectable by the individual victims, according to a report done for the FTC. Identity fraud is often but not necessarily the consequence of identity theft. Someone can steal or misappropriate personal information without then committing identity theft using the information about every person, such as when a major data breach occurs. A US Government Accountability Office study determined that "most breaches have not resulted in detected incidents of identity theft". the report also warned that "the full extent is unknown". A later unpublished study by Carnegie Mellon University noted that "Most often, the causes of identity theft is not known," but reported that someone else concluded that "the probability of becoming a victim to identity theft as a result of a data breach is ... around only 2%". More recently, an association of consumer data companies noted that one of the largest data breaches ever, accounting for over four million records, resulted in only about 1,800 instances of identity theft, according to the company whose systems were breached.

— Freebase

Scriptment

Scriptment

A scriptment is a written work by a movie or television screenwriter that combines elements of a script and treatment, especially the dialogue elements, which are formatted the same as in a screenplay. It is a more elaborate document than a standard draft treatment. A lengthy scriptment may resemble a script sufficiently to be used as the basis for qualifying the writer to receive or share a screenplay credit, as opposed to just a story credit. Some films have been shot using only a scriptment.

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Home equity

Home equity

Home equity is the market value of a homeowner's unencumbered interest in their real property—that is, the difference between the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, and/or as the property value appreciates. In economics, home equity is sometimes called real property value. Technically, home equity has a zero rate of return and is not liquid. Home equity management refers to the process of using equity extraction via loans—at favorable, and often tax-favored, interest rates—to invest otherwise illiquid equity in a target that offers higher returns. Home owners acquire equity in their home from two sources. They purchase equity with their down payment, and the principal portion of any payments they make against their mortgage. They also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value, causing the equity in the property to increase, thus providing a return on their investment when the property is sold. Home equity may serve as collateral for a home equity loan or home equity line of credit. Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the person will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, 10 years.

— Freebase

West Jordan

West Jordan

West Jordan is a city in Salt Lake County, Utah, United States. West Jordan is a rapidly growing suburb of Salt Lake City and has a mixed economy. According to the 2010 Census, the city had a population of 103,712, placing it as the fourth most populous in the state. The city occupies the southwest end of the Salt Lake Valley at an elevation of 4,330 feet. Named after the nearby Jordan River, the limits of the city begin on the river's western bank and end in the eastern foothills of the Oquirrh Mountains, where Kennecott Copper Mine, the world's largest man-made excavation is located. Settled in the mid-19th century, the city has developed into its own regional center. As of 2012, the city has four major retail centers; with Jordan Landing being one of the largest mixed-use planned developments in the Intermountain West. Companies headquartered in West Jordan include Mountain America Credit Union, Lynco Sales & Service, SME Steel, and Cyprus Credit Union. The city has one major hospital, Jordan Valley Medical Center, and a campus of Salt Lake Community College, which is designed to become the main campus by 2020. City landmarks include Gardner Village, established in 1850, and South Valley Regional Airport, formerly known as "Salt Lake Airport #2." The airport serves general aviation operations as well as a base for the Utah Army National Guard for Apache and Black Hawk helicopters.

— Freebase

Securitization

Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations and selling said consolidated debt as bonds, pass-through securities, or collateralized mortgage obligation, to various investors. The principal and interest on the debt, underlying the security, is paid back to the various investors regularly. Securities backed by mortgage receivables are called mortgage-backed securities, while those backed by other types of receivables are asset-backed securities. Critics have suggested that the complexity inherent in securitization can limit investors' ability to monitor risk, and that competitive securitization markets with multiple securitizers may be particularly prone to sharp declines in underwriting standards. Private, competitive mortgage securitization is believed to have played an important role in the U.S. subprime mortgage crisis. In addition, off-balance sheet treatment for securitizations coupled with guarantees from the issuer can hide the extent of leverage of the securitizing firm, thereby facilitating risky capital structures and leading to an under-pricing of credit risk. Off-balance sheet securitizations are believed to have played a large role in the high leverage level of U.S. financial institutions before the financial crisis, and the need for bailouts.

— Freebase

Small Business Administration

Small Business Administration

The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters". The agency's activities are summarized as the "3 Cs" of capital, contracts and counseling. SBA loans are made through banks, credit unions and other lenders who partner with the SBA. The SBA provides a government-backed guarantee on part of the loan. Under the Recovery Act and the Small Business Jobs Act, SBA loans were enhanced to provide up to a 90 percent guarantee in order to strengthen access to capital for small businesses after credit froze in 2008. The agency had record lending volumes in late 2010. SBA helps lead the federal government's efforts to deliver 23 percent of prime federal contracts to small businesses. Small business contracting programs include efforts to ensure that certain federal contracts reach woman-owned and service-disabled veteran-owned small businesses as well as businesses participating in programs such as 8 and HUBZone.

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Oyster card

Oyster card

The Oyster card is the form of electronic ticketing used on public transport in Greater London in the United Kingdom. It is promoted by Transport for London and is valid on travel modes across London including London Underground, London Buses, the Docklands Light Railway, London Overground, trams, some river boat services and most National Rail services within the London fare zones. A standard Oyster card is a blue credit-card-sized stored-value contactless smart card that can hold single tickets, period tickets and travel permits, which must be added to the card prior to travel. Passengers touch onto an electronic reader when entering and leaving the transport system in order to validate it or deduct funds. Cards may be "topped-up" by recurring payment authority, by online purchase, at credit card terminals or by cash, the last two methods at stations or ticket offices. The card is designed to reduce the number of transactions at ticket offices and the number of paper tickets. Use is encouraged by offering substantially cheaper fares than with cash. The card was first issued to the public in July 2003 with a limited range of features and there continues to be a phased introduction of further functions. By June 2012, over 43 million Oyster cards had been issued and more than 80% of all journeys on public transport in London were made using the card.

— Freebase

Texas ratio

Texas ratio

The Texas ratio is a measure of a bank's credit troubles. The higher the Texas ratio, the more severe the credit troubles. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets by the sum of its tangible common equity capital and loan loss reserves. In analyzing Texas banks during the early 1980s recession, Cassidy noted that banks tended to fail when this ratio reached 1:1, or 100%. He noted a similar pattern among New England banks during the recession of the early 1990s.

— Freebase

Freeze-Frame

Freeze-Frame

Freeze-Frame is the 12th album by American rock band The J. Geils Band, released in 1981. This was the band's only #1 album and their biggest seller. The album reached number one on the Billboard 200 album chart in February 1982, and remained at the top for four weeks. The album featured the hit singles "Centerfold" and "Freeze Frame". "Angel in Blue" also reached the US Top 40. This was the first album where songwriters Peter Wolf and Seth Justman, who provided the band with its original material, did not share credit on every song. Justman wrote or co-wrote all of the album as well as receiving credit as arranger and producer of the material. The album was remastered in 1993 and reissued on BGO in the UK and was remastered in 2008 for the Japanese market, but has not been remastered in the U.S. Part of the success of the album can be attributed to the videos that were run constantly on MTV including "Centerfold" and the title track from the album.

— Freebase

Barclaycard

Barclaycard

Barclaycard, part of Barclays Retail and Business Banking, is a global payment business. The Barclaycard was the first credit card introduced in the UK, coming into service in 1966. It enjoyed a monopoly until the introduction of the Access card in 1972. Barclaycard later became part of the Visa network but now offer both MasterCard and Visa versions. Barclaycard claims it is Europe's leading issuer of credit cards with 10.4 million customers in the UK and 10.8 million outside the UK. Barclaycard's main offices are in Northampton, along with several floors at Barclays' corporate headquarters, One Churchill Place in Canary Wharf, London.

— Freebase

Certified check

Certified check

A certified check or certified cheque is a form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written. Those funds are then set aside in the bank's internal account until the check is cashed or returned by the payee. Thus, a certified check cannot "bounce", and, in this manner, its liquidity is similar to cash, absent failure of the bank or illegal act. In some countries, e.g. Germany, it is illegal for a regular bank to certify checks. This regulation is supposed to prevent certified checks from becoming a universal substitute for cash, which is considered the only legal tender. The Deutsche Bundesbank is the only financial institution authorized to issue certified checks. The liquidity and certainty of payment of a certified cheque explains the fact that it is sometimes considered equivalent to cash, such as in the regulation of credit for casino gaming in Macau, where the law explicitly states that if a casino patron obtains casino chips and pays with a certified cheque, the transaction is not regarded as credit for gaming.

— Freebase

Over-the-counter

Over-the-counter

Over-the-counter or off-exchange trading is done directly between two parties, without any supervision of an exchange. It is contrasted with exchange trading, which occurs via these facilities. An exchange has the benefit of facilitating liquidity, mitigates all credit risk concerning the default of one party in the transaction, provides transparency, and maintains the current market price. In an OTC trade, the price is not necessarily made public information. OTC trading, as well as exchange trading, occurs with commodities, financial instruments, and derivatives of such. Products traded on the exchange must be well standardized. This means that exchanged deliverables match a narrow range of quantity, quality, and identity which is defined by the exchange and identical to all transactions of that product. This is necessary for there to be transparency in trading. The OTC market does not have this limitation. They may agree on an unusual quantity, for example. In OTC market contracts are bilateral, each party could have credit risk concerns with respect to the other party. OTC derivative market is significant in some asset classes: interest rate, foreign exchange, equities, and commodities.

— Freebase

Dalton Trumbo

Dalton Trumbo

James Dalton Trumbo was an American screenwriter and novelist. As one of the Hollywood Ten, he refused to testify before the House Un-American Activities Committee in 1947 during the committee's investigation of Communist influences in the motion picture industry. Trumbo won two Academy Awards while blacklisted; one was originally given to a front writer, and one was awarded to "Robert Rich," Trumbo's pseudonym. Blacklisting effectively ended in 1960 when it lost credibility. Trumbo was publicly given credit for two blockbuster films: Otto Preminger made public that Trumbo wrote the screenplay for the smash hit, Exodus, and Kirk Douglas publicly announced that Trumbo was the screenwriter of Spartacus. Further, President John F. Kennedy crossed picket lines to see the movie. His son Christopher Trumbo wrote a play based on his letters during the period of the blacklist, entitled Red, White and Blacklisted, produced in New York in 2003. He adapted it as a film, adding material from documentary footage, Trumbo. On December 19, 2011, The Writers Guild of America announced that Trumbo will get full credit for his work on the screenplay of the 1953 romantic comedy Roman Holiday, sixty years after the fact.

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Telephone card

Telephone card

A telephone card, calling card or phone card for short, is a small plastic card, size and shape like a credit card, used to pay for telephone services. It is not necessary to have the physical card except with a stored-value system; knowledge of the access telephone number to dial and the PIN is sufficient. Standard cards which can be purchased and used without any sort of account facility give a fixed amount of credit and are discarded when used up; rechargeable cards can be topped up, or collect payment in arrears. The system for payment and the way in which the card is used to place a telephone call vary from card to card. Cards known as remote memory cards have a PIN associated with a specific land-line telephone account; calls using the card are billed to the associated account.

— Freebase

Diners Club International

Diners Club International

Diners Club International, founded as Diners Club, is a charge card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Matty Simmons. When it first emerged, it became the first independent credit card company in the world that established an idea of a self-sufficient company producing credit cards for travel and entertainment. Diners Club International and its franchises service high net, affluent and well travelled individuals from around the globe with operations in 59 countries.

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Home equity line of credit

Home equity line of credit

A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period, where the collateral is the borrower's equity in his/her house. Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses. HELOC abuse is often cited as one cause of the subprime mortgage crisis.

— Freebase

EMV

EMV

EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards and IC card capable point of sale terminals and automated teller machines, for authenticating credit and debit card transactions. It is a joint effort initially conceived between Europay, MasterCard and Visa to ensure the security and global interoperability of chip based payment cards. Europay International SA was absorbed into MasterCard in 2002. The standard is now defined and managed by the public corporation EMVCo LLC. JCB joined the organization in December 2004, and American Express joined in February 2009. In May 2013 China UnionPay was announced as its latest member with UnionPay now having an equal 1/5 interest in the standards body along with Visa, MasterCard, American Express and JCB. IC card systems based on the EMV specification are being phased in across the world, under names such as "IC Credit" and "Chip and PIN". The EMV standards define the interaction at the physical, electrical, data and application levels between IC cards and IC card processing devices for financial transactions. There are standards based on ISO/IEC 7816 for contact cards, and standards based on ISO/IEC 14443 for contactless cards.

— Freebase

Carbon credit

Carbon credit

A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the mass of another greenhouse gas with a carbon dioxide equivalent equivalent to one tonne of carbon dioxide. Carbon credits and carbon markets are a component of national and international attempts to mitigate the growth in concentrations of greenhouse gases. One carbon credit is equal to one metric tonne of carbon dioxide, or in some markets, carbon dioxide equivalent gases. Carbon trading is an application of an emissions trading approach. Greenhouse gas emissions are capped and then markets are used to allocate the emissions among the group of regulated sources. The goal is to allow market mechanisms to drive industrial and commercial processes in the direction of low emissions or less carbon intensive approaches than those used when there is no cost to emitting carbon dioxide and other GHGs into the atmosphere. Since GHG mitigation projects generate credits, this approach can be used to finance carbon reduction schemes between trading partners and around the world. There are also many companies that sell carbon credits to commercial and individual customers who are interested in lowering their carbon footprint on a voluntary basis. These carbon offsetters purchase the credits from an investment fund or a carbon development company that has aggregated the credits from individual projects. Buyers and sellers can also use an exchange platform to trade, such as the Carbon Trade Exchange, which is like a stock exchange for carbon credits. The quality of the credits is based in part on the validation process and sophistication of the fund or development company that acted as the sponsor to the carbon project. This is reflected in their price; voluntary units typically have less value than the units sold through the rigorously validated Clean Development Mechanism.

— Freebase

American Express

American Express

American Express Company, also known as AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best known for its credit card, charge card, and traveler's cheque businesses. Amex cards account for approximately 24% of the total dollar volume of credit card transactions in the US. BusinessWeek and Interbrand ranked American Express as the 22nd most valuable brand in the world, estimating the brand to be worth US$14.97 billion. Fortune listed Amex as one of the top 20 Most Admired Companies in the World. The company's logo, adopted in 1958, is a Roman gladiator whose image appears on the company's travelers' cheques and charge cards.

— Freebase

Maxed Out

Maxed Out

Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders is an independent feature-length documentary film and book that chronicles abusive practices in the credit card industry. Written and directed by James Scurlock, the film and book use interviews with creditors, debtors, academics, and others to illustrate its story. The film, premiered at the South by Southwest Film Festival in Austin, Texas, USA, in 2006 where it claimed the Special Jury Prize, went on to several film fests including Seattle, Full Frame Documentary, Maui, New Zealand, Milwaukee International, Woodstock, Bergen, Leeds International, Oxford and IDFA film festivals. Henry Rollins selected Maxed Out when invited to host a favorite film within Maryland Film Festival 2007. The film was released in movie theaters in select cities in the United States in March 2007 through Magnolia Pictures. The DVD was released nationally on June 7, 2007, in the joint effort of Magnolia Pictures and Red Envelope Entertainment. The book Maxed Out is published by Scribner, a division of Simon and Schuster. It was published in March 2007 in hardcover and in December 2007 in paperback.

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Payment system

Payment system

The payment system is an operational network - governed by laws, rules and standards - that links bank accounts and provides the functionality for monetary exchange using bank deposits. The payment system is the infrastructure established in effect the transfer of monetary value between parties discharging mutual obligations. Its technical efficiency determines the efficiency with which transaction money is used in the economy, and risk associated with its use. What makes it a "system" is that it employs cash-substitutes; traditional payment systems are negotiable instruments such as drafts and documentary credits such as letter of credits. With the advent of computers and electronic communications a large number of alternative electronic payment systems have emerged. These include debit cards, credit cards, electronic funds transfers, direct credits, direct debits, internet banking and e-commerce payment systems. Some payment systems include credit mechanisms, but that is essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions and consist of a major service provided by banks and other financial institutions.

— Freebase

Aeroplan

Aeroplan

Aeroplan is a Montreal, Quebec, Canada based coalition loyalty program owned by Aimia, a global loyalty management company. The Aeroplan Program was created in July 1984 by Air Canada as an incentive program for its frequent flyer customers. There are approximately 4.6 million active members in the program. In recent years, Aeroplan has evolved into a loyalty marketing program with retail partners such as Esso, Home Hardware, Birks, Sobeys, Thrifty Foods, Nestle Canada and others. Aeroplan is also used by Air Creebec, Canadian North, Calm Air, and First Air. Internally, Aeroplan has deployed the MicroStrategy platform for business intelligence reporting and analytics for its personnel to analyze member information, track purchasing patterns, identify profiles of loyal members, and align its loyalty program with members’ preferences. Many Aeroplan members collect miles via credit cards. Credit cards were originally allocated to CIBC and Diners Club/enRoute, but it was later offered to AMEX Bank of Canada, while Diners Club withdrew from the program.

— Freebase

EZCorp.

EZCorp.

EZCorp is one of the largest pawn shop operators in the world by market capitalization. It is a publicly traded company based in Austin, Texas. The company is primarily involved with retail, payday lending, signature loans, and pawn lending. EZCorp lends or provides credit services to individuals to meet their short-term cash needs. The company makes pawn loans, which are non recourse loans collateralized by tangible personal property, including jewelry, consumer electronics, tools, sporting goods, and musical instruments. The company also offers signature loans, consisting of payday loans or fee-based credit services, to customers seeking loans from unaffiliated lenders. The company purchased by a New York Private Equity firm in 1989 with 16 pawn shops and now operates over 890 stores in 13 states and Mexico under the names of EZPAWN, EZMONEY Loan Services, EZMONEY Payday Loans and EZ Loan Services brand names. EZCORP had its IPO on September 6, 1991. EZCORP also holds approximately 29 percent of the outstanding shares of Albemarle & Bond Holdings, the largest pawnbroker in the United Kingdom. EZCorp also holds around 30 percent of the outstanding shares of Cash Converters, which has over 550 locations in Australia and in 21 countries.

— Freebase

Green Dot Corporation

Green Dot Corporation

Green Dot Corporation is an issuer of prepaid MasterCard and Visa cards in the United States. These products are available at more than 60,000 retail stores, including CVS, Rite Aid, Walgreens, and RadioShack; as well as with discounted offerings at Meijer and Wal-Mart. Green Dot also transfers individual's direct deposit funds from the US government to personal bank accounts, The cards may be used like normal debit or credit cards, but they are not backed by a checking account or line of credit. Purchases are deducted from the balance stored on the card. The user can add more money to the card by paying cash at a retail store's point of sale, or in certain cases from their paycheck. In this sense, these cards have some of the features of a bank account. Green Dot is headquartered in Pasadena, California, and it was formerly known as Next Estate Communications. The company provides co-branded card programs to Wal-Mart, Boost Mobile, AT&T and Citibank. In 2007, Green Dot raised $20M in funding, including Sequoia Capital as an investor. In 2008, Green Dot ceased to offer prepaid Discover cards.

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Durham Technical Community College

Durham Technical Community College

Durham Technical Community College is a public two-year accredited institution of higher education and technical training school located in Durham, North Carolina, USA. Durham Tech's main campus is near to downtown Durham, Research Triangle Park, and Raleigh-Durham International Airport. The college serves Northern Durham County at its Northern Durham Center, and in Orange County at its Orange County Campus completed in 2008. Durham Tech serves over 26,000 students with credit, non-credit, adult, and continuing education offerings. Durham Tech offers career programs leading to over 100 degrees, certificates, and diplomas and university transfer programs. As of 2008, the school boasted 606 faculty members and 5,474 matriculated students. A large portion of DTCC's students are part-time. In order to give them flexibility, DTCC has a large distance education program, offering numerous online courses and hybrid courses. DTCC is a charter member of the North Carolina Community College System, and is accredited by the Southern Association of Colleges and Schools.

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Finance charge

Finance charge

In United States law, a finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees. Details regarding the federal definition of finance charge are found in the Truth-in-Lending Act and Regulation Z, promulgated by the Federal Reserve Board. In personal finance, finance charge may be considered simply the dollar amount paid to borrow money, while interest is a percentage amount paid such as annual percentage rate or APR. This definition of finance charge and interest seems to be very narrow and not consistent with the websters definition or the accounting definition. Creditors and lenders use different methods to calculate finance charges. The most common formula is based on the average daily balance, in which daily outstanding balances are added together and then divided by the number of days in the month. In financial accounting, interest is defined as any charge or cost of borrowing money. Interest is a synonym for finance charge. In effect, the accountant looks at the entire cost of settlement on a Housing and Urban Development form 1 document as interest unless that charge can be identified as an escrow amount or an amount that is charged to current expenses or expenditures other than interest, such as payment of current or prorated real estate taxes.

— Freebase

BNP Paribas

BNP Paribas

BNP Paribas is a French bank and financial services company with headquarters in Paris, and a global headquarters in London. It was formed through the merger of Banque Nationale de Paris and Paribas in 2000 and is one of the largest banks in the world. Based on 2012 information BNP Paribas was ranked as the fourth largest bank in the world, as measured by total assets, by Bloomberg and Forbes. BNP Paribas escaped the 2007–09 credit crisis relatively unscathed reporting a €3 billion net profit for the year of 2008, and €5.8 billion for 2009, both years boosted by profits from trading in its CIB division. BNP Paribas has one of the highest credit ratings in its peer group with the long term debt of the group currently ranked A+ by S&P, A2 by Moody's and A+ by Fitch. The firm is a universal bank split into three strategic business units: Retail Banking, Corporate & Investment Banking and Investment Solutions. BNP Paribas's four domestic markets are France, Italy, Belgium, and Luxembourg. It also has significant retail operations in the United States, Poland, Turkey, Ukraine, and North Africa, as well as large-scale investment banking operations in New York, London, Hong Kong, and Singapore.

— Freebase

Freeze Frame

Freeze Frame

Freeze-Frame is the 12th album by American rock band The J. Geils Band, released in 1981. This was the band's only #1 album and their biggest seller. The album reached number one on the Billboard 200 album chart in February 1982, and remained at the top for four weeks. The album featured the hit singles "Centerfold" and "Freeze Frame". "Angel in Blue" also reached the US Top 40. This was the first album where songwriters Peter Wolf and Seth Justman, who provided the band with its original material, did not share credit on every song. Justman wrote or co-wrote all of the album as well as receiving credit as arranger and producer of the material. The album was remastered in 1993 and reissued on BGO in the UK and was remastered in 2008 for the Japanese market, but has not been remastered in the U.S. Part of the success of the album can be attributed to the videos that were run constantly on MTV including "Centerfold" and the title track from the album.

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Postpaid mobile phone

Postpaid mobile phone

The postpaid mobile phone is a mobile phone for which service is provided by a prior arrangement with a mobile network operator. The user in this situation is billed after the fact according to their use of mobile services at the end of each month. Typically, the customer's contract specifies a limit or "allowance" of minutes, text messages etc., and the customer will be billed at a flat rate for any usage equal to or less than that allowance. Any usage above that limit incurs extra charges. Theoretically, a user in this situation has no limit on use of mobile services and, as a consequence, unlimited credit. This service is better for people with a secured income. Postpaid service mobile phone typically requires two essential components in order to make the 'post-usage' model viable: Credit history/Contractual commitment: This is the basis on which the service provider is able to trust the customer with paying their bill when its due and to have legal resource in case of non-payment Service tenure: Most postpaid providers require customers to sign long term contracts committing to use of the service. Failure to complete the term would make the customer liable for early terminiation fees.

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Consumer debt

Consumer debt

In economics, consumer debt is outstanding debt of consumers, as opposed to that of businesses or governments. In macroeconomic terms, it is debt which is used to fund consumption rather than investment. It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. In recent years, an alternative analysis might view consumer debt as a way to increase domestic production, on the grounds that if credit is easily available, the increased demand for consumer goods should cause an increase of overall domestic production. The permanent income hypothesis suggests that consumers take debt to smooth consumption throughout their lives, borrowing to finance expenditures earlier in their lives and paying down debt during higher-earning periods. Both domestic and international economists have supported a recent upsurge in South Korean consumer debt, which has helped fuel economic expansion. On the other hand, credit card debt is almost unknown just across the sea in Japan and China, because of long-standing cultural taboos against personal debt.

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LCL S.A.

LCL S.A.

LCL S.A. is a major French financial services company, with its registered office in Lyon, France and its administrative head office in Paris, France. LCL is an abbreviation which means Le Crédit Lyonnais, the former name of the bank. Since 2003, LCL is owned by Crédit Agricole but still operates as a separate entity in all of France. It serves about 6 million customers in 2000 branches in France.

— Freebase

PAUG

PAUG

PAUG refers to application of credit derivatives technology to structured finance products. It works very similar to a CDS with the reference entity being a structured finance products such as ABS, CMBS, RMBS etc. The trigger events in PAUG can be classified mainly as “Credit Events” and “Floating Rate Payment Events”. PAUG is a settlement methodology for CDS on ABS reference Entities.

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Account

Account

to place to one's account; to put to the credit of; to assign; -- with to

— Webster Dictionary

Accredit

Accredit

to believe; to credit; to put trust in

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Accredit

Accredit

to credit; to vouch for or consider (some one) as doing something, or (something) as belonging to some one

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Adage

Adage

an old saying, which has obtained credit by long use; a proverb

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Apocryphalness

Apocryphalness

the quality or state of being apocryphal; doubtfulness of credit or genuineness

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Authenticate

Authenticate

to render authentic; to give authority to, by the proof, attestation, or formalities required by law, or sufficient to entitle to credit

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Authoritative

Authoritative

having, or proceeding from, due authority; entitled to obedience, credit, or acceptance; determinate; commanding

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Balance

Balance

to make the sums of the debits and credits of an account equal; -- said of an item; as, this payment, or credit, balances the account

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Believe

Believe

to exercise belief in; to credit upon the authority or testimony of another; to be persuaded of the truth of, upon evidence furnished by reasons, arguments, and deductions of the mind, or by circumstances other than personal knowledge; to regard or accept as true; to place confidence in; to think; to consider; as, to believe a person, a statement, or a doctrine

— Webster Dictionary

Believer

Believer

one who gives credit to the truth of the Scriptures, as a revelation from God; a Christian; -- in a more restricted sense, one who receives Christ as his Savior, and accepts the way of salvation unfolded in the gospel

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Break

Break

to destroy the financial credit of; to make bankrupt; to ruin

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Circulate

Circulate

to cause to pass from place to place, or from person to person; to spread; as, to circulate a report; to circulate bills of credit

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Compensation

Compensation

the extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount; a set-off

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Creance

Creance

to get on credit; to borrow

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Credence

Credence

reliance of the mind on evidence of facts derived from other sources than personal knowledge; belief; credit; confidence

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Credence

Credence

that which gives a claim to credit, belief, or confidence; as, a letter of credence

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Credent

Credent

having credit or authority; credible

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Credential

Credential

giving a title or claim to credit or confidence; accrediting

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Credential

Credential

that which gives a title to credit or confidence

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Credential

Credential

testimonials showing that a person is entitled to credit, or has right to exercise official power, as the letters given by a government to an ambassador or envoy, or a certificate that one is a duly elected delegate

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Credit

Credit

trust given or received; expectation of future playment for property transferred, or of fulfillment or promises given; mercantile reputation entitling one to be trusted; -- applied to individuals, corporations, communities, or nations; as, to buy goods on credit

— Webster Dictionary

Credit

Credit

the side of an account on which are entered all items reckoned as values received from the party or the category named at the head of the account; also, any one, or the sum, of these items; -- the opposite of debit; as, this sum is carried to one's credit, and that to his debit; A has several credits on the books of B

— Webster Dictionary

Credited

Credited

of Credit

— Webster Dictionary

Crediting

Crediting

of Credit

— Webster Dictionary

Credit

Credit

to bring honor or repute upon; to do credit to; to raise the estimation of

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Creditable

Creditable

bringing credit, reputation, or honor; honorable; as, such conduct is highly creditable to him

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Creditably

Creditably

in a creditable manner; reputably; with credit

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Credit mobilier

Credit mobilier

a joint stock company, formed for general banking business, or for the construction of public works, by means of loans on personal estate, after the manner of the credit foncier on real estate. In practice, however, this distinction has not been strictly observed

— Webster Dictionary

Creditor

Creditor

one who gives credit in business matters; hence, one to whom money is due; -- correlative to debtor

— Webster Dictionary

Creed

Creed

to believe; to credit

— Webster Dictionary

Debit

Debit

to charge with debt; -- the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold

— Webster Dictionary

Del credere

Del credere

an agreement by which an agent or factor, in consideration of an additional premium or commission (called a del credere commission), engages, when he sells goods on credit, to insure, warrant, or guarantee to his principal the solvency of the purchaser, the engagement of the factor being to pay the debt himself if it is not punctually discharged by the buyer when it becomes due

— Webster Dictionary

Detract

Detract

to take credit or reputation from; to defame

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Detract

Detract

to take away a part or something, especially from one's credit; to lessen reputation; to derogate; to defame; -- often with from

— Webster Dictionary

Disadvantage

Disadvantage

loss; detriment; hindrance; prejudice to interest, fame, credit, profit, or other good

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Disauthorize

Disauthorize

to deprive of credit or authority; to discredit

— Webster Dictionary

Disbelief

Disbelief

the act of disbelieving;; a state of the mind in which one is fully persuaded that an opinion, assertion, or doctrine is not true; refusal of assent, credit, or credence; denial of belief

— Webster Dictionary

Discredit

Discredit

to deprive of credit or good repute; to bring reproach upon; to make less reputable; to disgrace

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Emit

Emit

to issue forth, as an order or decree; to print and send into circulation, as notes or bills of credit

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Faithless

Faithless

not believing; not giving credit

— Webster Dictionary

Fineer

Fineer

to run in dept by getting goods made up in a way unsuitable for the use of others, and then threatening not to take them except on credit

— Webster Dictionary

Float

Float

to support and sustain the credit of, as a commercial scheme or a joint-stock company, so as to enable it to go into, or continue in, operation

— Webster Dictionary

Frist

Frist

to sell upon credit, as goods

— Webster Dictionary

Fund

Fund

a stock or capital; a sum of money appropriated as the foundation of some commercial or other operation undertaken with a view to profit; that reserve by means of which expenses and credit are supported; as, the fund of a bank, commercial house, manufacturing corporation, etc

— Webster Dictionary

Good

Good

adequate; sufficient; competent; sound; not fallacious; valid; in a commercial sense, to be depended on for the discharge of obligations incurred; having pecuniary ability; of unimpaired credit

— Webster Dictionary

Honor

Honor

fame; reputation; credit

— Webster Dictionary

Injurious

Injurious

causing injury or harm; hurtful; harmful; detrimental; mischievous; as, acts injurious to health, credit, reputation, property, etc

— Webster Dictionary

Inundate

Inundate

to fill with an overflowing abundance or superfluity; as, the country was inundated with bills of credit

— Webster Dictionary

Kite

Kite

fictitious commercial paper used for raising money or to sustain credit, as a check which represents no deposit in bank, or a bill of exchange not sanctioned by sale of goods; an accommodation check or bill

— Webster Dictionary

Kiteflying

Kiteflying

a mode of raising money, or sustaining one's credit, by the use of paper which is merely nominal; -- called also kiting

— Webster Dictionary

Reckon

Reckon

to come to an accounting; to make up accounts; to settle; to examine and strike the balance of debt and credit; to adjust relations of desert or penalty

— Webster Dictionary

Reputation

Reputation

specifically: Good reputation; favorable regard; public esteem; general credit; good name

— Webster Dictionary

Repute

Repute

specifically: Good character or reputation; credit or honor derived from common or public opinion; -- opposed to disrepute

— Webster Dictionary

Shaky

Shaky

easily shaken; tottering; unsound; as, a shaky constitution; shaky business credit

— Webster Dictionary

Solid

Solid

fig.: Worthy of credit, trust, or esteem; substantial, as opposed to frivolous or fallacious; weighty; firm; strong; valid; just; genuine

— Webster Dictionary

Sponsible

Sponsible

responsible; worthy of credit

— Webster Dictionary

Stretch

Stretch

to exaggerate; to extend too far; as, to stretch the truth; to stretch one's credit

— Webster Dictionary

Support

Support

that which maintains or preserves from being overcome, falling, yielding, sinking, giving way, or the like; subsistence; maintenance; assistance; reenforcement; as, he gave his family a good support, the support of national credit; the assaulting column had the support of a battery

— Webster Dictionary

Surcharge

Surcharge

to show an omission in (an account) for which credit ought to have been given

— Webster Dictionary

Surcharge

Surcharge

the showing an omission, as in an account, for which credit ought to have been given

— Webster Dictionary

Tick

Tick

credit; trust; as, to buy on, or upon, tick

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Tick

Tick

to go on trust, or credit

— Webster Dictionary

Trust

Trust

credit given; especially, delivery of property or merchandise in reliance upon future payment; exchange without immediate receipt of an equivalent; as, to sell or buy goods on trust

— Webster Dictionary

Trust

Trust

to give credence to; to believe; to credit

— Webster Dictionary

Trust

Trust

to sell or deliver anything in reliance upon a promise of payment; to give credit

— Webster Dictionary

Unbalanced

Unbalanced

not adjusted; not settled; not brought to an equality of debt and credit; as, an unbalanced account; unbalanced books

— Webster Dictionary

accredit

accredit

To ascribe; attribute; credit with.

— Wiktionary

accredit

accredit

To enter on the credit side of an account book.

— Wiktionary

accredit

accredit

To credit.

— Wiktionary

sale

sale

An exchange of goods or services for currency or credit.

— Wiktionary

overdraw

overdraw

To withdraw more money from an account than there is credit; to make an overdraft

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interest

interest

The price paid for obtaining, or price received for providing, money or goods in a credit transaction, calculated as a fraction of the amount or value of what was borrowed.

— Wiktionary

balance

balance

the result of such a procedure; the difference between credit and debit of an account.

— Wiktionary

volume

volume

The total supply of money in circulation or, less frequently, total amount of credit extended, within a specified national market or worldwide.

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AAA

AAA

The highest credit rating given by debt analysis agencies such as Standard & Poor's, Moody's, and A.M. Best.

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creed

creed

To believe; to credit.

— Wiktionary

plastic

plastic

credit or debit cards used in place of cash to buy goods and services.

— Wiktionary

trust

trust

Confidence in the future payment for goods or services supplied; credit.

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trust

trust

To give credence to; to believe; to credit.

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trust

trust

To sell or deliver anything in reliance upon a promise of payment; to give credit.

— Wiktionary

credit

credit

A person's credit rating or creditworthiness, as represented by their history of borrowing and repayment (or non payment).

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credit

credit

A , a credit hour u2013 used as measure if enough courses have been taken for graduation.

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advance

advance

An amount of money or credit, especially given as a loan, or paid before it is due; an advancement.

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greenshirt

greenshirt

(Hist., derogatory) A member of Canada's Social Credit Party, which was thought by its opponents to resemble a fascist movement, at least its style and presentation.

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adage

adage

An old saying, which has obtained credit by long use.

— Wiktionary