Consumer Credit terms starting with I

7 terms

1. Identity Theft Identity theft is the unauthorized use of your personal information, such as your name, address, Social Security number, or credit account information.
2. Index Statistical measure of the state of the stock market or economy based on the performance of stocks or other components.
3. Interest The term interest is used to describe the cost of using money, a right, share, or title in property.
4. Interest rate The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time.
5. Interest-free period The number of days you have to pay your bill in full before an interest charge is assessed on purchases.
6. Introductory APR The APR charged during the credit card's introductory period after a credit card account is opened.
7. Investor Any person or institution that invests in mortgages or mortgage-backed securities.