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| Credit application
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Form used to record information about an applicant seeking a loan. |
| Credit bureau
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A firm, which maintains credit reports on individuals and the use or abuse of the credit extended to them. |
| Credit history
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The record of a person's current and past debt payments. |
| Credit life insurance
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Insurance, which pays off a mortgage in the event of the borrower's death. |
| Credit limit
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Maximum amount of money that can be loaned to a prospective borrower. |
| Credit rating
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A rating given to a person or company that establishes credit-worthiness based upon present financial condition, experience, and past credit history. |
| Credit report
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A report to a prospective lender on the credit standing of a prospective borrower, used to help determine credit worthiness. |
| Credit repository
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Large companies that gather financial and credit information from various sources about individuals who have applied for credit. |
| Credit union
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Nonprofit cooperative organization providing banking and financial services such as home improvement loans, home equity loans and mortgages to its members. |
| Creditor
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A person or firm to which debt is owed. |
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