Terms Starting with O

Original Creditor: The original creditor is the one who you have taken credit from.

Obsolescence: This is the word used to explain how long a negative item will stay on the credit report. E.g. the obsolescence period for bankruptcy is 10 years.

Original Amount: This is the original amount that you owe to the creditor

Over-the-limit-fee: Once you exceed the limit of your credit, this fee is charged which you might not know until you get your bill.