What is credit account?
: an arrangement in which a bank, store, etc., allows a customer to buy things with a credit card and pay for them later : charge account.
What is not considered a credit?
Your credit report does not contain information about your gender, race, religion, national origin, marital status, political affiliation, medical history, criminal record, or whether you receive public assistance. “Lenders may consider this information, however, as may other types of scores,” FICO notes on its site.
What are the 2 types of credit?
It may seem like there are endless types of credit to choose from, but there are actually only two types: revolving accounts and installment credit.
What are 5 C’s of credit?
Regardless of the type of financing needed, a bank or lending institution will be interested in both your business and personal financials. Credit analysis is governed by the “5 Cs:” character, capacity, condition, capital and collateral.
What do the 3 C’s of credit mean?
Capital and Capacity