What is Annual Percentage Rate (APR)?Annual Percentage Rate (APR) is the interest rate that reflects all the costs of the loan during a one year time period. How Does Annual Percentage Rate (APR)
What Does ACH Stand For? ACH, which stands for or Automated Clearing House, is a fund transfer system operated by NACHA, the National Automated Clearing House Association.   Launched in
What Is a Carding Forum?Designed to facilitate the sharing of stolen credit card information, a carding forum is an illegal website where fraudsters also share info, tips and techniques about
What is Credit?Credit is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given time period. Interest is typically charged on the outstanding
What is a Credit Bureau?A credit bureau is an agency that collects, organizes, and disseminates credit information to creditors and potential creditors. Credit bureaus generally collect information
What is a Credit Card?A credit card is issued by a financial institution that lets you borrow money to make a purchase. According to a recent Experian report, the average American holds 4 credit
What is the Credit CARD Act?The Credit Card Accountability, Responsibility, and Disclosure Act is better known as the Credit CARD Act. The law's main purpose is to prevent certain business practices
What Is a Credit Card Balance? A credit card balance is the total amount of money owed on a credit card account. Whenever a purchase is made, the balance increases. Conversely, whenever a payment
What is a Credit Rating?In personal finance, the term credit rating commonly refers to a score issued by the Fair Isaac Corporation (a "FICO score"). A person's credit rating indicates how
What is a Credit Report?A credit report is a report detailing a person's financial history specifically related to their ability to repay borrowed money. How Does a Credit Report Work?There are
What is a Credit Score?Credit score refers to the FICO score, which is created and calculated by the Fair Isaac Corporation and is a measure of an individual's creditworthiness. It is a mathematical
What is a Credit Utilization Rate?The credit utilization rate is a calculation comparing an individual's total debt balances to total available credit. How Does a Credit Utilization Rate Work?The
What is a Credit Utilization Ratio?Credit utilization, commonly referred to as the credit utilization ratio or credit utilization rate, is a calculation comparing an individual's total debt
What Is a Fleet Card?A fleet card is a type of plastic payment card, either debit or credit, that is issued to employees to pay for expenses related to vehicle operations, notably fuel and
What Is a Tradeline?A tradeline is a record of activity for a credit account. A tradeline is created on your credit report when you borrow money from a bank or lender who then reports the activity of