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Glossary Term D – 100 Best Credit Reports

Daily periodic rate
The annual percentage rate of credit measured as a daily amount. You can find the daily periodic rate by dividing the APR by 365.

Date closed
The date that a specific credit account was terminated.

Date opened
The date that a specific credit account was established.

Debit card

A card issued by a bank that, when used, takes money directly out of your account from an ATM, or when making purchases at certain stores that accept them.

Debt Collector

Someone who collects debts owed to others.

Debt Consolidation
The act of taking out a second mortgage or home equity line of credit in order to pay off other loans. This is done in hope of lowering the consumer's total cost of credit through one debt instead of many smaller ones.

Debt-to-Income ratio
The total amount of income a person receives per month compared to the amount of debt a person has to pay per month. This is another way for creditors to determine creditworthiness.


An individual or organization who owes a creditor money because of a loan, mortgage, credit card, etc.


This is what happens when a debtor fails to meet financial obligations such as payments.


When loan payments have not been paid and are past their due date.


When a debtor is released from responsibility for a debt owed. This happens with some types of bankruptcy.

Discretionary income

The income that remains after a consumer has paid for fixed monthly expenses.

Dismissed bankruptcy

This is when a judge rules against a consumer's petition for bankruptcy. It appears on credit reports as a dismissed bankruptcy. The consumer's debts remain outstanding. 

Disposable income

All remaining income after taxes have been taken out.

The right of a consumer to question the accuracy of information in their credit report. This right is protected by the Fair Credit Reporting Act.


A partial cash payment made to something of larger cost such as a house or vehicle. Usually, the higher the down payment is, the lower the interest rate will be.

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