This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings

Translation glossary: Consumer credit

Creator:
Ana Roca
Ana Roca
Filter
Reset
Showing entries 1-31 of 31
 
AmortizationThe process of fully paying off indebtedness by installments of principal and earned interest over a definite time. 
English
Annual Percentage Rate (APR)The cost of credit on a yearly basis expressed as a percentage. 
English
Appraisal FeeThe charge for estimating the value of property offered as security. 
English
Balloon PaymentA large extra payment that may be charged at the end of a loan or lease. 
English
BuydownA lump sum payment made to the creditor by the borrower or by a third party to reduce the amount of some or all of the consumer\'s periodic payments to repay the indebtedness. 
English
Closed-End CreditGenerally, any loan or credit sale agreement in which the amounts advanced, plus any finance charges, are expected to be repaid in full over a definite time. Most real estate and automobile loans are closed- end agreements. 
English
CollateralAlso referred to as security. Property that is offered to secure a loan or other credit and that becomes subject to seizure on default. 
English
Community Reinvestment Act (CRA)This act encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes. The banks are also expected to maintain safe and sound operations. 
English
CosignerAnother person who signs for a loan and assumes equal liability for it. 
English
CreditThe promise to pay in the future in order to buy or borrow in the present. The right to defer payment of debt. 
English
Credit CardAny card, plate, or coupon book that may be used repeatedly to borrow money or buy goods and services on credit. 
English
Credit HistoryA record of how a person or company has borrowed and repaid debts. 
English
Credit Scoring SystemA statistical system used to determine whether or not to grant credit by assigning numerical scores to various characteristics related to creditworthiness. 
English
CreditworthinessA creditor\'s measure of a consumer\'s or company\'s past and future ability and willingness to repay debts. 
English
DefaultFailure to meet the terms of a credit agreement. 
English
DiscountAn amount deducted from the regular price for those who purchase with cash instead of credit. Don\'t confuse this with the discount on a bond which is different. See the bonds section. 
English
Finance ChargeThe total dollar amount paid to get credit. 
English
Fixed RateAn approach to determining the finance charge payable on an extension of credit. A predetermined and certain rate of interest applied to the principal of a loan or credit agreement. 
English
Graduated PaymentRepayment terms calling for gradual increases in the payments on a closed-end obligation. Negative amortization is usually associated with a graduated payment loan. 
English
Liability On An AccountLegal responsibility to repay debt. 
English
Open-End CreditCommonly referred to as a line of credit. It may be used repeatedly up to a certain limit, also called a charge account or revolving credit. 
English
Open-End LeaseMany times referred to as a finance lease. This is a lease that may involve a balloon payment based on the value of the property when it is returned. 
English
Overdraft Checking AccountA checking account associated with a line of credit that allows a person to write checks for more than the actual balance in the account, with a finance charge on the overdraft. 
English
PointsFinance charges paid by the borrower at the beginning of a loan in addition to monthly interest; each point equals one percent of the loan amount. 
English
Renegotiable RateA type of variable rate involving a renewable short-term balloon note. The interest rate on the loan is fixed during the term of the note. However, when the balloon comes due, the lender may refinance it at a higher rate. Periodic refinancing may be necessary in order for the loan to be fully amortized. 
English
Security InterestThe right right of the creditor to take property or a portion of property offered as security. 
English
Seller\'s PointsA lump sum paid by the seller to the buyer\'s creditor to reduce the cost of the loan to the buyer. This payment is either required by the creditor or volunteered by the seller, usually in a loan to buy real estate. Generally, one point equals one percent of the loan amount. 
English
Service ChargeA component of some finance charges, such as the fee for triggering an overdraft checking account into use. 
English
SurchargeAn extra charge sometimes imposed on the purchase of a product or service. Commonly seen in the past with some credit card purchases Presently, surcharges for credit card purchases are prohibited. 
English
Variable RateA variable rate loan or credit agreement, calls for an interest rate that may fluctuate over the life of the loan. The rate is often tied to an index that reflects changes in market rates of interest. A fluctuation in the rate causes changes in either the payments or the length of the loan term. Limits are often placed on the degree to which the interest rate or the payments can vary. 
English
WraparoundA financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. The creditor combines or \"wraps\" the remainder of the old loan with the new loan at the intermediate rate. 
English

Public glossaries

My glossaries

Close search
All of ProZ.com
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search