In the event the goods useful is currency, the agreement is known as financing
Cost-of-way of living variations (COLA): An annual improvement in workers’ spend so you’re able to erase the end result regarding inflation toward to buy strength. Good Cola is commonly a salary raise, according to the Individual Rates Index.
Counterfeit: Phony, constantly talking about bogus currency. The trick Service is responsible for investigating counterfeit cash in the fresh You.S.
Credit: A legal contract where a debtor obtains some thing of value today of the guaranteeing to invest the financial institution because of it afterwards. In the event the item useful is an item, the newest customer expenditures they “towards borrowing.” (Look for together with fund.)
Borrowing from the bank agency: A family that info borrowers’ borrowing histories. The three prominent U.S. credit agencies try Equifax, Experian, and TransUnion.
Charge card: A credit card that allows one borrow money or purchase services with the borrowing. The financial institution one to issues the credit cards puts a dollar restriction toward the have fun with, depending on your creditworthiness. (Compare with debit card.) Charge card pricing (interest levels) also are predicated on creditworthiness.
