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Credit rating |
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Credit ratingThe degree of credit worthiness assigned to a person based on credit history and financial status.Credit ratingA rating used by banks, insurance companies, mortgage companies and other financial institutions making loans which they use to judge an individual or company's credit worthiness.Depending on how many points the applicant gets when his/her personal details are run through the rating system, the financial institution will either accept or reject the risk.Financial institutions rely on highly computerised credit rating systems, and co-operate with each other in providing details of bad credit risks. Hence the concept of the 'black list'.Similar MatchesNonaccredited investorNonaccredited investorWealthy, sophisticated investors who do not meet SEC net worth requirements. These investors require less protection because of large financial resources, but only 35 nonaccredited investor can be included per investment. Credit cardCredit cardAny card, plate or coupon book that may be used repeatedly to borrow money or buy goods and services on credit. Best interests of creditors testBest interests of creditors testThe requirement that a claim holder voting against a plan of reorganization must receive at least as much as if the debtor were liquidated. Letter of credit (LOC)Letter of credit (LOC)A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues. Credit averseCredit averseWhen a borrower has a poor credit history, has previously been declared bankrupt or has outstanding County Court Judgements, they are often described as credit averse. People with averse credit ratings often have to pay higher interest rates on a mortgage. Further SuggestionsPurpose creditTax credit Federal Farm Credit Bank creditors Eurocredit market Credit risk Credit full faith and credit Backup Line of Credit Evergreen credit Open end credit Credit checks Credit insurance Export Credits Guarantee Department Close end credit Credit union Tax credit Trade credit Unconfirmed Letter of Credit Accredited investor National Foundation for Consumer Credit Credit Standards Credit period Credit agencies Credit Rating Agencies |
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