Relevant Aspects of the Credit
AbstractThe word “credit” comes from the Latin language, but it was only until 1447 that the word “credito” with the commercial meaning appeared. The credit represents a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some later date. Anytime when an individual financial something with a loan, they are using credit. (Andrew Eduard 2000). The credit score measures the financial credit worthiness of borrower. With credit score information, the lender assesses the risk involved in landing a sum of money to the borrower. The Credit Bureaus and Fair Isaac Corporation (FICO) closely guards the mathematical calculations; this calculation involves the analysis of large financial data. The FICO Credit Score ranges from 300 to 850.A credit score of 660 puts the borrower as potentially. Subprime where are borrower with blemished and limited credit history. A higher Credit Score indicates better financial credit worthiness. (Dennis Estrada, 1997)
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): X (2010)
Issue (Month): 1 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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credit; risk analysis; types of credit; financial crisis;
Find related papers by JEL classification:
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
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