Cost-of-living variations (COLA): An annual change in workers’ spend so you’re able to delete the result from inflation to your to purchase stamina. An excellent Cola is sometimes a salary boost, in accordance with the User Rate Directory.
Counterfeit: Phony, always discussing phony currency. The secret Service is responsible for investigating counterfeit money in the new You.S.
Credit: A legal arrangement where a debtor receives some thing of value today from the promising to blow the lending company for it afterwards. If the goods useful is a product or service, the newest consumer acquisitions it «towards the borrowing from the bank.» (Get a hold of and finance.)
Borrowing agency: A company one records borrowers’ credit records. The three biggest U.S. credit agencies was Equifax, Experian, and TransUnion.
Mastercard: A plastic card that allows one to borrow funds or purchase services and products into the borrowing. The lender one to affairs the credit credit places a dollar maximum into the its play with, dependent on the creditworthiness. (Compare to debit card.) Bank card rates (rates) also are according to creditworthiness.
Read moreIn the event the item useful are currency, the new contract is called financing
