Consumer Credit terms starting with D

15 terms

  1. Daily balance method with compounding According to this method, we calculate the interest charges for each balance by applying the “daily periodic rate” for that balance to the “daily…
  2. Daily balance method without compounding According to this method, we calculate the interest charges for each balance by applying the “daily periodic rate” for that balance to the “daily…
  3. Daily periodic rate (DPR) DPR stands for “Daily Periodic Rate.” This is a daily interest rate. The daily periodic rate or DPR for a given balance is equal to the APR on that…
  4. Debit Card A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines or…
  5. Debt cancellation coverage Cancels your debt if you become unemployed, disabled, or meet other criteria covered by your contract.
  6. Debt suspension coverage Stops your payments during periods of unemployment, disability, or other situations covered by your contract.
  7. Debt-to-Income Ratio A measure of creditworthiness computed by dividing the dollar amount of monthly debts by total gross monthly income, then converting the result to a…
  8. Deed A deed is a written document that transfers ownership of land or other real estate from the owner, also known as the grantor, to the buyer, or grantee.
  9. Default Default occurs when a debtor is unable to meet the legal obligation of debt repayment, one form of which is the failure to promptly pay interest or…
  10. Default APR See penalty APR.
  11. Department of Veterans Affairs (VA) VA will insure certain government mortgages that are provided to Veterans of the U.S.
  12. Disclosures Certain information that Federal and State laws require creditors to give to borrowers relative to the terms of the credit extended.
  13. Discount Points Amount paid to the lender by the borrower or seller to decrease or "buy down" the borrower's interest rate.
  14. Divorce Decree legal ruling by a court which, among other things, assigns obligations for the payment of various debts.
  15. Due date The due date is the date by which we must receive your payment in order for it to be on time. Your bill lists the due date.