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Glossary
We realize some of the credit wording the banks use can get confusing. We've put together this glossary to help you better understand commonly used words, phrases, and acronyms in the credit industry.

Glossary

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	Date of Status
	The date of status on a borrower's credit report is the last date the creditor reported any information about the borrower's credit account.

	Debit Card
	A debit card is generally issued by a bank to provide cardholder's direct access to their checking or savings account. Any withdrawal of funds is immediately with online debit card purchases and delayed by a day or two with offline debit card purchases.

	Deed
	A deed is the legal document provided by the seller giving title of ownership to a property or object.

	Default
	A card issuer may consider a cardholder in default if the cardholder fails to perform all of the duties and obligations set forth in the cardholder agreement.

	Default
	The terminology 'Default' occurs when mortgage payments are not made in a timely fashion, or other covenant conditions in the mortgage were not met.

	Delinquent
	Delinquent accounts are classified into several different categories depending on the time a past due payment was actually collected. Common delinquent classifications are 30, 60, 90 and 120 days past due.

	Disclosure
	Disclosure refers to the process of a lender providing the borrower with a copy of their credit history as required by the FCRA.

	Dispute
	If a borrower believes an item of information on their credit report is inaccurate or incomplete, the borrower may challenge, or dispute the disputed item.

	Due-On-Sale Provision
	A due-on-sale provision written within a mortgage loan allows the lender to demand repayment of the loan in full if the borrower sells a property that serves as secured collateral for the mortgage loan.