Top 10 English Slangs for Credit Reporter

Top 10 English Slangs for Credit Reporter 1. Credit Score: The Holy Grail The credit score is like the Holy Grail in the credit reporting world. It's a three-digit number that reflects a person's creditworthiness. Lenders heavily rely on this score to determine if someone is eligible for a loan or credit. 2. Delinquency: The Red Flag Delinquency refers to a missed payment or failure to fulfill a financial obligation on time. It's a red flag for lenders, indicating a borrower's inability to manage their finances responsibly. 3. Charge-Off: The Write-Off When a debt is deemed uncollectible, it's labeled as a charge-off. It doesn't mean the borrower is off the hook; it's just that the lender has given up on collecting the full amount. 4. Collateral: The Security Blanket Collateral is an asset pledged by a borrower to secure a loan. It acts as a security blanket for the lender, as they can seize the asset if the borrower defaults on the loan. 5. Credit Utilization: The Balancing Act