Credit Score
Financial glossary definition
Definition
A numerical rating (typically 300-850) that represents your creditworthiness based on your credit history. Higher scores qualify you for better loan rates and terms. Key factors include payment history, credit utilization, and account age.
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Related Terms
Annual Percentage Rate (APR)
The yearly interest rate charged on a loan or earned on an investment, including fees and other cost…
Capital Gains
The profit earned when you sell an investment for more than you paid for it. Short-term capital gain…
Compound Interest
Interest calculated on both the initial principal and the accumulated interest from previous periods…
Consumer Price Index (CPI)
A measure of the average change in prices paid by consumers for a basket of goods and services. The …
Debt-to-Income Ratio (DTI)
The percentage of your gross monthly income that goes toward debt payments. Lenders use DTI to asses…
EMI (Equated Monthly Installment)
A fixed monthly payment made by a borrower to a lender. Each EMI covers both interest and principal …