Module Resources
The purpose of this glossary is to organize resources throughout all modules.
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Entries starting with: C |
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CASH FLOWMoney flowing in and out. |
CHECKA piece of paper that you write out to indicate how much you want to pay someone. |
CHECKING ACCOUNTA deposit account held at a financial institution that allows withdrawals and deposits. |
ChexSystems®A consumer credit reporting agency that provides data related to how a consumer has handled deposit accounts. |
COLLATERALCollateral is an asset pledged by a borrower to secure a loan or other credit. |
COLLISION COVERAGEIs a no-fault coverage which pays for damages to the insured’s vehicle when in a collision. |
COMPOUND INTERESTInterest earned on the original investment, plus interest earned on interest added to the investment. |
COMPREHENSIVE COVERAGE Provides coverage for the insured’s vehicle in the event of non-collision damages such as theft or a chipped windshield. |
CONSUMER.FTC.GOVCONSUMER.FTC.GOV website The Federal Trade Commission enforces the credit laws that protect your right to get, use, and maintain credit. |
CONSUMERFINANCE.GOVCONSUMERFINANCE.GOV website The Consumer Financial Protection Bureau is an agency of the U.S. government responsible for consumer protection in the financial sector. |
CREDITGenerally defined as a contract agreement requiring a borrower who has received a sum of money to repay a lender later, typically with interest. Credit can also refer to an individual's creditworthiness or credit history, which is used to determine the likelihood that the individual will repay a debt. |
CREDIT REPORTA credit report is a record of the person’s credit history from a number of sources. |
CREDIT SCOREA credit score is a numerical expression based on a level of analysis of a person’s files, to represent the creditworthiness of an individual. |
CREDIT UNIONSNot-for-profit cooperative financial institutions owned and controlled by their members. |
CREDIT.COMCREDIT.COM website Get a free credit score and advice from credit experts. Learn how to better manage your credit and which credit products are best for you. |
CREDITKARMA.COM |
CREDITWORTHINESSA lender's willingness to trust a borrower to repay a debt. |