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Clear, practical definitions of the terms you will see in UK credit reports and lending decisions.
Showing 400 of 400 terms
Explore terms by topic (indexable category hubs).
Start with the most common credit definitions.
How long a credit account has been open.
The date a credit account was closed.
An account that has been passed to collections due to non-payment.
The date a credit account was first opened.
The balance a lender reports to a credit agency for an account.
The data a lender sends to credit agencies about your account.
The current state of a credit account, such as up to date, late, in arrears, or defaulted.
A code used by lenders to show whether an account is up to date, late, or in default.
A change in how a lender reports your account status each month.
When someone gains access to your account and uses it without permission.
The list of addresses on your credit file over time.
When the address on your application does not match what is on your credit file.
Checks used to confirm your current and previous addresses.
A court form used to admit a debt and propose repayments.
A term lenders use for a history of missed payments or serious credit issues.
A lender check that looks at your income and outgoings to decide if you can comfortably repay credit.
Extra headroom lenders expect after essential spending and repayments.
A check that tests whether you could afford repayments if costs rise.
A lender’s initial indication of how much it may lend for a mortgage.
An alternative name or spelling that appears on your credit file.
Anti-money laundering checks used to prevent financial crime.
A yearly charge for holding a credit card or account.
A fee charged when you apply for a credit product.
Fraudulent credit applications made in someone else’s name.
Annual Percentage Rate, a measure of the cost of borrowing over a year, including interest and some fees.
An overdraft limit agreed in advance with your bank.
A fee charged by a lender for setting up a mortgage or loan.
An agreement with a lender to pay less than the original amount for a period of time.
A credit file marker showing you agreed reduced payments with a lender.
A situation where payments are overdue and you are behind on what you owe.
A measure of how far behind you are on payments.
A label on your credit file showing an account is behind on payments.
The legal transfer of a debt from one company to another.
A court order that takes money directly from your wages to repay a debt.
A court order that takes payments directly from your wages.
The amount of credit you can still use before reaching your limit.
The average length of time your credit accounts have been open.
An enforcement agent who collects debts under a court order.
Rules about when and how a bailiff can enter your home.
Charges added by enforcement agents when they pursue a debt.
The amount shown on your credit report at the time of reporting.
Moving debt from one credit card to another, often to take advantage of a lower interest rate.
The interest rate applied to transferred balances on a credit card.
A credit card designed for moving existing debt at a low or 0% rate.
A fee charged when you move debt from one credit card to another.
The maximum amount you can move onto a balance transfer card.
A large final payment due at the end of a loan agreement.
Using bank statements to assess income and spending.
A legal process for people who cannot repay their debts, which has a significant impact on your credit profile.
The point at which most bankruptcy restrictions end.
A formal request to the court to declare someone bankrupt.
A court order that extends restrictions on someone after bankruptcy.
Extra pay received as a bonus on top of basic salary.
A fee paid to reserve a mortgage or loan deal.
A UK scheme that pauses most debt enforcement actions for a limited period.
The period when most debt enforcement is paused under the UK Breathing Space scheme.
A monthly agreement for internet service, usually with a credit check.
A fee charged by a broker for arranging a mortgage or loan.
A structured plan for managing income and expenses.
A short-term credit option that lets you split payments over time.
The maximum amount you can spend using a BNPL provider.
A range of credit products used to fund a vehicle purchase.
Withdrawing cash using a credit card, usually with fees and higher interest.
A fee charged when you withdraw cash using a credit card.
A credit card that returns a percentage of your spending as cash rewards.
A type of credit that lets you buy items from a catalogue and pay over time.
Paying a CCJ in full so it can be marked as satisfied.
A court order that secures a debt against a property.
Unpaid child maintenance payments that are overdue.
A fraud prevention marker placed on a credit file by the UK fraud database, CIFAS.
A credit score and report provider that uses Equifax data in the UK.
A credit account that is no longer active or open for new spending.
A stage where overdue debts are actively pursued for repayment.
Regular payments you must make, such as rent, loans, and utilities.
Escalating a lender complaint to the Financial Ombudsman Service.
A loan used to combine multiple debts into one payment.
Income earned from contract or freelance work.
A local tax paid to councils for services such as waste collection.
Unpaid council tax that has fallen behind schedule.
A formal claim issued through the county court to recover a debt.
The official form issued when a creditor starts a court claim for a debt.
A court order in England, Wales, or Northern Ireland stating you must repay a debt.
Any account where you borrow money or receive credit, such as a card, loan, or overdraft.
How long you have been using credit, often measured by the age of your oldest account.
A common shorthand for credit reference agencies that store your credit history.
A contract between you and a lender that sets the terms of borrowing.
A range within a credit score scale that groups scores into labels such as excellent or poor.
A credit card designed for people with limited or poor credit history, intended to help build a positive payment record.
A loan designed to help build credit by reporting on-time payments, often with funds held until the loan is repaid.
A revolving credit account that lets you borrow money up to a set limit.
An estimate of how likely you are to be accepted for a specific credit card.
A review of your credit report by a lender or service provider.
A record of a credit check made by a lender or service provider.
Your full record at a credit reference agency, including accounts, payment history, and public records.
A block that stops new lenders from accessing your credit report.
When a credit file is limited or hidden due to special circumstances.
A general term for the strength and stability of your credit profile.
A record of how you have used and repaid credit over time.
The length of time you have been using credit.
A credit score and report provider that uses TransUnion data in the UK.
The maximum amount you can borrow on a credit card or overdraft at any one time.
When a lender reduces the maximum amount you can borrow on a credit card.
A higher limit approved by your lender, which increases how much you can borrow.
A lender’s review of your credit limit based on account activity and risk.
How much of your credit limit you are currently using.
A tool that lets you quickly restrict access to your credit file.
The variety of credit types on your report, such as credit cards, loans, and mortgages.
A service that tracks changes on your credit report and alerts you to updates.
A broad view of your credit history, score, and risk signals shown on your report.
A general term for how lenders view your credit risk, often based on your credit report and score.
The process of improving your credit score after past problems.
A company that collects and holds information about your borrowing history and provides it to lenders.
A record of your borrowing history, repayments, and credit accounts held by a credit reference agency.
An update that fixes incorrect information on your credit report.
A request to correct incorrect or incomplete information on your credit report.
A number that summarises your credit risk based on information in your credit report.
A feature that adds extra data, such as bank transactions, to your credit profile.
A part of your credit history that influences how your score is calculated.
The formula or system used to calculate a credit score.
A tool that estimates how actions might affect your credit score.
A record on your credit file that a lender or service checked your report.
A loan offered by a member-owned credit union.
The percentage of your available credit that you are currently using.
Another term for credit utilisation, calculated as balance divided by total credit limit.
A person or organisation that is owed money.
A legal request by a creditor to make someone bankrupt.
The total amount owed on a credit account at a given moment.
How correct and up to date the information on your credit report is.
An update that fixes incorrect information on your credit report.
When certain credit data is hidden or not shared in a report.
Guidance that helps you manage or resolve problem debt.
A Scottish program that helps people repay debts through an approved plan.
A repayment method where you focus on the highest interest debt first.
A company that buys unpaid debts and then collects them.
The process of recovering unpaid debts, often carried out by lenders or collection agencies.
A company hired or assigned to recover unpaid debts.
An informal agreement to repay debts at a reduced rate over time.
When a lender sells a debt to another company.
A formal insolvency solution for people with low income and minimal assets.
An order that extends restrictions after a Debt Relief Order.
A repayment method where you pay off the smallest debts first.
When a lender decides not to pursue repayment of a debt, often after default.
A ratio that compares your monthly debt payments to your monthly income.
A person who owes money to a creditor.
The legal document that transfers a debt from one owner to another.
A marker added to your credit report when a lender closes an account after missed payments.
The amount recorded as outstanding when an account is defaulted.
The date a lender records an account as in default on your credit file.
A credit file entry showing an account has been defaulted.
A formal letter sent before a lender records a default on your account.
An account status showing a lender has formally defaulted the account.
A credit account that a lender has marked as in default due to missed payments.
A court form used to dispute a debt claim.
The stage where payments are overdue and considered late.
The upfront amount you pay toward a purchase, reducing how much you need to borrow.
A payment method that automatically collects money from your bank account.
A request to remove a financial association from your credit file.
The money left after paying essential bills and expenses.
A written request asking a lender or agency to correct credit report errors.
The process of resolving errors or disagreements on a credit report.
When a Debt Relief Order is ended early, usually due to changed circumstances.
The rules that determine whether you qualify for a Debt Relief Order.
The period when a Debt Relief Order is active and creditors cannot take action.
A fee for paying off a mortgage or loan early during a fixed period.
A charge applied when you pay off a loan earlier than agreed.
The official register of people eligible to vote, which lenders use to verify identity and address.
A check used by lenders to see how likely you are to be accepted, often using a soft search.
Your work situation, such as employed, self-employed, or unemployed.
Unpaid gas or electricity bills that are overdue.
A bill for gas or electricity usage.
The modern term for a bailiff who enforces court orders for debt recovery.
Fees and charges added when a debt is enforced through the courts.
A major UK credit reference agency with its own credit report and score range.
Costs you need for basic living, such as housing, food, and utilities.
A formal notice that a landlord intends to end a tenancy.
A major UK credit reference agency with its own credit report and score range.
A change to your credit report after new data is reported by a lender.
The date your credit file was last updated by a lender.
A court order that secures a debt against a property on a long-term basis.
A link on your credit file created when you share credit with someone, such as a joint account.
An interest rate that stays the same for a set period.
A mortgage with a fixed interest rate for a set period.
Temporary relief or flexibility granted by a lender during financial difficulty.
A fee charged on card purchases made in another currency.
A notice on your credit file that warns lenders to take extra care.
A dispute raised when an account or search is fraudulent.
A note on your credit file indicating suspected or confirmed fraud activity.
An agreement to pay a reduced amount to settle a debt completely.
A written offer to settle a debt for a reduced lump sum.
A credit check that is visible to lenders and can affect your credit score.
A record of a hard credit check made during an application.
A temporary agreement with a lender to reduce or pause payments.
An enforcement officer who recovers certain higher-value debts.
A type of car finance where you pay in instalments and own the car at the end.
Regular payments for essentials like rent, utilities, and council tax.
A process used to confirm your identity when applying for credit.
When someone uses your personal information to open accounts or take credit in your name.
A process lenders use to confirm you are who you say you are.
When someone pretends to be you to access credit or services.
A breakdown of how much money you receive and spend each month.
A rule of thumb that links income to the maximum loan size.
An agreement to make payments from your income during bankruptcy.
A court order requiring payments from your income during bankruptcy.
Checking that your income details are accurate and reliable.
A public register listing personal insolvency cases in the UK.
A formal agreement in the UK to repay a portion of debts over time.
A financial state where you cannot pay your debts as they fall due.
A public register that lists certain insolvency cases in the UK.
A loan repaid in fixed instalments over a set period.
A plan that spreads a balance into fixed monthly payments.
The percentage charged on borrowed money, usually expressed annually.
The time on a credit card when you are not charged interest if you pay in full.
A mortgage where you pay only interest each month and repay the balance at the end.
A temporary order that secures a debt against a property.
A temporary 0% interest rate offered on purchases or balance transfers.
A temporary lower interest rate offered at the start of a credit product.
A complaint that a lender gave credit without proper affordability checks.
A document confirming that your IVA has been successfully completed.
When an Individual Voluntary Arrangement ends without completion.
The insolvency practitioner who manages your IVA.
A formal change to the terms of an Individual Voluntary Arrangement.
A credit account shared by two people, such as a joint loan or mortgage.
A mortgage where two people borrow but only one owns the property.
A mortgage taken out by two or more people together.
A court judgment entered because no response was received to a claim.
The most recent date a lender sent data to a credit agency.
A charge applied when a payment is made after the due date.
A payment made after the due date, which can be reported to credit agencies.
A marker on your credit file showing a payment was made late.
A general fee charged by a lender for setting up credit.
A formal warning that court action may follow if a debt is not resolved.
The law that sets time limits for taking legal action on debts.
The time limit for bringing certain debts to court under UK law.
An address that appears on your credit file because you have lived there or used it for credit.
A mistake where an incorrect address appears on your credit file.
The total sum you borrow from a lender.
The process of applying for a loan and submitting your details for approval.
An estimate of how likely you are to be approved for a loan.
A fee charged for processing and setting up a loan.
The interest rate applied to a personal or secured loan.
The length of time you have to repay a loan.
A percentage showing how much of a property value is borrowed versus paid as a deposit.
The smallest amount you must pay on a credit account each month.
A payment that is not made on time and is recorded on your credit report.
The number of missed payments recorded on your credit report.
A phone plan paid monthly, often with a credit check.
A check performed by a mobile provider before approving a contract.
The number of months a payment has been overdue.
A long-term loan used to buy property, secured against the home.
When you have missed mortgage payments and are behind on your loan.
A professional who helps you find and apply for mortgage deals.
A fee charged when you close a mortgage or switch lenders.
A formal document confirming a lender will provide a mortgage on set terms.
Moving your existing mortgage deal to a new property.
The interest rate you pay on a mortgage loan.
A check to see if you could afford mortgage payments if rates rise.
The length of time you have to repay your mortgage.
The lender’s detailed review of your mortgage application.
A fee charged for the lender’s property valuation.
A difference in how your name appears across credit records.
A difference in how your name appears across credit accounts or reports.
Credit history events that signal missed payments or higher risk.
Your income after tax, National Insurance, and other deductions.
Recently opened accounts or recent credit applications on your report.
A situation where there is little or no recorded borrowing activity in your credit file.
A debt that is important but usually has less immediate consequences than priority debts.
A letter telling you that a debt has been sold or transferred.
A short statement you can add to your credit file to explain a special circumstance.
A formal notice that enforcement action is about to begin.
A formal notice that your account is behind on payments.
A mortgage that links your savings to reduce interest costs.
The percentage of payments you have made on time.
A credit account that is currently active and available for use.
A secure way for you to share bank account data with trusted providers through regulated connections.
Your permission for a provider to access bank data securely.
A court order requiring you to provide financial details about your situation.
An agreement with your bank that lets you spend more than the money in your current account.
A charge for using an overdraft or going over an agreed limit.
Interest charged on the amount you borrow through an overdraft.
The maximum amount you can go below zero on your current account.
Paying back money you have borrowed through an overdraft.
A fee charged when you exceed your credit limit.
Paying more than the minimum or scheduled amount on a credit account.
Extra earnings from working hours beyond your contracted hours.
A debt settlement where only part of the balance is repaid.
A credit file marker showing a debt was settled for less than the full amount.
A short-term, high-cost loan designed to be repaid quickly.
The date by which you must make at least the minimum payment.
A record of whether you have paid your credit accounts on time.
The period of time covered by your on-time and late payments.
A temporary pause in repayments agreed with a lender.
An agreed schedule to repay a debt over time, often at a reduced amount.
A check-in to see if a debt repayment plan is still affordable.
Using payslips to confirm your income for a credit application.
A car finance agreement with lower monthly payments and a final optional payment to buy the car.
A fixed-term loan where you borrow a set amount and repay it over time.
Good credit behaviour, such as paying on time and keeping balances low.
A court order that can require you to leave a property.
Rules that require parties to exchange information before starting court proceedings.
A provisional indication that you are likely to be accepted for a product, subject to final checks.
An early check that estimates your chance of approval, typically using a soft search.
A debt that has serious consequences if you do not pay, such as rent, mortgage, or council tax.
An initial period of employment where your job is being assessed.
A fee charged for a specific mortgage or loan deal.
A balance transfer offer with a low or 0% promotional rate.
A special rate offered for a limited period, often 0% or low interest.
Documents used to verify where you live, such as utility bills or bank statements.
A fraud protection flag that makes lenders carry out extra checks on applications.
Information from public sources, such as court judgments, that appears on your credit report.
The interest rate applied to new card purchases.
A credit card that offers a low or 0% rate on purchases for a period.
Replacing an existing loan with a new one, often to change the rate or term.
Switching your mortgage to a new deal, either with your current lender or a new one.
Unpaid rent that has fallen behind your agreed payment schedule.
A person who agrees to pay rent if a tenant cannot.
The practice of reporting rent payments to credit agencies so they count toward your credit history.
A mortgage where you repay both interest and the original balance each month.
The length of time you have to repay a loan or credit agreement.
The schedule a lender uses to send account updates to credit agencies.
The date a lender submits your account data to a credit agency.
The delay between account activity and when it appears on your credit report.
When a lender takes back an asset after missed payments on a secured loan.
The APR that at least 51% of accepted applicants are expected to receive.
A standard example used in ads to show typical credit costs.
The set of forms included with a court claim that lets you respond.
A fee charged when a payment fails due to insufficient funds.
Credit that can be reused as you repay, such as credit cards and overdrafts.
A credit card that offers points, miles, or other rewards for spending.
A CCJ that has been paid in full and marked as satisfied.
A label showing a debt or judgment has been paid in full.
A notification that your credit score has changed.
A bucket within a score range that labels scores as excellent, good, fair, or poor.
The score value where one band ends and another begins.
Any movement in your credit score, either up or down.
A decrease in your credit score.
An increase in your credit score over time.
The minimum and maximum numbers used by a credit agency to calculate scores.
Comparing different credit score ranges across agencies.
The numerical range used to calculate credit scores.
A score level that lenders use as a minimum for certain products.
Checking your credit score regularly to see how it changes over time.
A record on your credit report showing that a search or check took place.
A card that uses a cash deposit as security for the credit limit.
Debt that is backed by an asset, such as a house or car.
A loan backed by an asset, such as a home or car.
Earnings from running your own business or working as a sole trader.
The Scottish term for bankruptcy.
A court process that removes a CCJ in certain circumstances.
An account that has been fully paid off and closed.
A credit report status showing an account has been closed and paid.
A letter that confirms a debt has been settled or reduced.
A scheme where you buy a share of a property and pay rent on the rest.
A mortgage used to buy a share of a shared ownership property.
A credit check that does not affect your credit score and is not visible to other lenders.
A record of a soft check, usually only visible to you.
The default variable rate a lender charges after a fixed deal ends.
A fixed payment you set up to send a set amount to another account on a schedule.
The amount you owe at the end of a billing cycle, shown on your statement.
A fee charged for sending a paper statement or account notice.
A monthly marker on your credit file showing payment performance.
A debt that is too old for a lender to pursue through the courts under UK limitation rules.
A letter used to respond when a debt may be too old to enforce in court.
A formal legal demand for payment that can be a step before bankruptcy action.
A credit card that can usually only be used at a specific retailer.
Short for Standard Variable Rate, a lender’s default mortgage rate.
A fake identity created by combining real and fake information.
The total duration of a loan or credit agreement.
A credit file with limited information about borrowing or repayment history.
A court order that takes money directly from your bank account.
A court order that sets affordable repayment terms for a debt.
A small, temporary payment made when you cannot afford the full amount.
An additional loan amount added to an existing loan or mortgage.
The total amount you repay, including interest and fees.
A mortgage where the rate follows a base rate plus a set margin.
A major UK credit reference agency with its own credit report and score range.
A formal debt solution used in Scotland to repay part of what you owe.
A required licence in the UK for watching live TV or BBC iPlayer.
Unpaid TV licence fees that are overdue.
Going overdrawn without an agreed overdraft limit.
A CCJ that has not been paid in full.
Debt that is not backed by an asset or collateral.
A loan that is not backed by an asset or collateral.
How much of each individual credit limit you are using.
The share of your available credit that you are using.
A level of credit usage where scores may begin to drop.
When utility providers report payment data to credit agencies.
Unpaid bills for utilities such as gas, electricity, or water.
Income that changes from month to month, such as overtime or commissions.
An interest rate that can change over time based on market conditions or lender decisions.
When an identity or address check does not match your records.
A marker that tells creditors you may need extra support due to vulnerability.