Glossary Terms Starting with A

Account: This is the record of one of your credit history.

Account Number: This is an exclusive number that identifies your account with the creditor.

Account condition: This explains the status of your account e.g. open, paid, settled, charge-off etc.

Accounts-in-good-standing: These are accounts that behold a positive status and indicate your creditworthiness.

Annual Fee: This a fee charged on a yearly basis for services rendered by a creditor.

APR (Annual Percentage Rate): This is the percentage of interest that will be levied on your credit on a yearly basis.