Consumer Credit terms starting with B

10 terms

1. "Blue Book" Price the price of a used car as measured by a quality index of many similar vehicles.
2. Balance We put each charge on your account, including interest or fees, into a balance category.
3. Balance transfer The process of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower interest rate on the outstanding…
4. Balance-transfer fee A fee charged when you make a balance transfer. It may be a flat fee or a percentage of the transfer.
5. Balloon Payment A mortgage with periodic installments of principal and interest that do not fully amortize the loan.
6. Bill Your bill is the statement of your account. Your bill will tell you the total amount that you owe us as of the end of the last billing period.
7. Billing period The billing period is the fixed period of time covered by the bill we send you.
8. Buy Down When you make an up-front cash payment to reduce your monthly payments on a mortgage loan, it's called a buy down.
9. Buy Here, Pay Here Financing is usually associated with used car dealers. Installment payments, often made weekly, are paid directly to the dealership, which provides private…
10. Buyer's Agent A buyer's agent represents a buyer in a real estate transaction, negotiating with the seller's agent for a lower price or a contract with more favorable…