Terms Starting with C
- Credit Disability Insurance (CDI) — Acronym,
- Credit History — Definition,
- A record of an individual's or company's past borrowing patterns and whether or not debts were repaid on time.
- Credit Insurance — Definition,
- Insurance that covers borrowers and/or lenders if one is unable to repay debts.
- A policy that pays off the card debt should the borrower lose his job, die or become disabled. The structure of protection for a revolving credit card debt is calculated each month to cover only the debt that existed at the last billing cycle.
- Credit Life Insurance — Definition,
- Life insurance that repays the insured's debts upon their death. The death benefit decreases as the debt is paid off.
- Credit Limit — Definition,
- The maximum amount of charges a cardholder may apply.
- Credit Line — Definition,
- The maximum money amount available in an open-end credit arrangement such as a credit card or overdraft protection.
- Credit Line Increase (CLI) — Acronym,
- Credit Management Corporation (CMC) — Company Est. 1996, Vancouver, British Columbia, Canada,
- Credit Memo (CM) — Acronym, ➥ Bank account transaction code.
- Credit Rating (CR) — Acronym, Very Important,
- A judgement of a person's ability to repay debts. The rating is often based on a person's current and projected income and past debt payment history. Also called a credit score.
➥ A metric to measure the credit worthiness of a debtor. - Credit Rating Agencies (CRA) — Acronym,
- Credit Report (CR) — Acronym, Very Important,
- A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
➥ A report that outlines the credit worthiness of an individual or entity. - Credit Report Authorization and Release (CRAR) — Acronym,
- Credit Report Request (CRR) — Acronym,
- Credit Reporting Agency (CRA) — Acronym,
- An organization that prepares reports that are used by lenders to determine a potential borrower's credit history. The agency obtains data for these reports from a credit repository as well as from other sources.
- Credit Reporting Company (CRC) — Acronym,
- Credit Repository — Definition,
- Another term for a credit bureau.
- Credit Risk — Definition,
- The risk of loss assumed under a financial contract that a borrower or a counter-party to a loan or other credit-related contract may default or fail to fulfill its obligations.
- Credit Risk Rating (CRR) — Acronym,
- Credit Sale Agreement (CSA) — Acronym,
- Credit Score — Definition,
- Also referred to as a 'Beacon Score' is a number, between 300 and 900, that reflects a person's credit history. Lenders calculate this number using a computer system as part of the process for assigning rates and terms to the loans they grant.
- Credit Specialist (CRSP) — Acronym, Canada,
- Presented to students upon successful completion of the first five courses leading up to the CCP program offered through the Credit Institute of Canada.
➥ A certificate. - Credit Union (CU) — Acronym,
- A non-profit, cooperative financial institution owned and controlled by the people who use its services, usually a group such as employees in the same company or industry. Credit unions historically have been able to offer lower rates and fees and still operate in the black. Credit unions rely on a financial reserve to absorb unexpected losses from loan defaults or other financial setbacks, and the majority of credit unions carry federal deposit insurance that protects individual accounts up to a specified amount in the event the credit union fails.
➥ Credit unions are member-owned, full service co-operative financial institutions. - Credit Union Atlantic (CUA) — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender.
- Credit Union Central Alberta (CUCA) — Company Est. 1967, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender.
- Credit Union Central of Canada (CUCC) — Company Est. 1953, Ontario, Canada, ➥ The national trade association for the Canadian credit union system.
- Credit Union Central of Manitoba (CUCM) — Company, Winnipeg, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender.
- Credit Union Central of New Brunswick (CUCNB) — Company, New Brunswick, Canada,
- Credit Union Central of Ontario (CUCO) — Company, Ontario, Canada, ➥ Now referred to as the Credit Unions of Ontario. A Canadian NHA approved mortgage lender that offers all lending types.
- Credit Union Central of Saskatchewan (CUCS) — Company Est. 1938, Regina, Saskatchewan, Canada,
- A financial management co-operative that provides research, consulting, and developmental support to credit unions in Canada.
➥ Now called SaskCentral. A Canadian NHA approved mortgage lender.
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Credit Disability Insurance -
