Investopedia

Continue to Site »

Credit Application

Filed Under » , ,
Dictionary Says

Definition of 'Credit Application'

A request for an extension of credit, either orally or in written form. The request must follow the lender's extension request procedures in order to be valid. The application must legally contain all pertinent information relating to the cost of the credit, including the annual percentage yield (APY) and all associated fees. Regulation Z of the Federal Reserve governs the credit application process.
Investopedia Says

Investopedia explains 'Credit Application'

A valid credit application will provide the amount and type of credit requested, the applicant's credit score and report and the means of security for the loan. Regulation Z also protects consumers by providing rights to credit card users, such as giving borrowers written disclosure and providing guidelines for acceptable credit advertisements.

Articles Of Interest

  1.

    The Importance Of Your Credit Rating

    A great starting point for learning what a credit score is, how it is calculated and why it is so important.

  2. Understanding Credit Card Interest

    Paying these rates can impact your disposable income and your investment returns.

  3. Digging Out Of Personal Debt

    Find out why good intentions can put consumers in an even bigger hole than before.

  4. Debt Reckoning

    Learn about debt ratios and how to use them to assess a company's financial health. You could save a lot of money!

  5. How is my credit score calculated?

    The credit score, commonly referred to as a FICO score, is a proprietary tool created by the Fair Isaac Corporation. This is not the only way to get a credit score, but the FICO score is the ...

  6. Are credit cards and debit cards considered debt instruments?

    Consumer debt instruments allow people to borrow money at specific interest rates. In recent years, the credit industry has become very imaginative in the creation and marketing of consumer debt ...

  7. What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  8. 7 Unconventional Ways Businesses Can Borrow Money

    Find out how your business can get the money it needs - even when the bank says "no".

  9. Taxable Rewards To Be Aware Of

    Find which benefits from reward programs count as income in the eyes of the IRS.

  10. Financial Solutions For Young Women

    Break through the stereotypes and find out how to manage your life to meet your needs.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Credit & Loans [1] => What's New [2] => Student Finance [3] => Reducing Debt Couple [4] => Reducing Debt [5] => Paying Off Household Debt [6] => Reducing Debt Retirement [7] => Personal Finance [8] => SEG (Credit Card Applicants) ) time:12ms