is for always

Always pay your bills on time to avoid late-fees.

is for borrower

This is someone who receives something with a promise to return it or its equivalent. If someone does not pay you back, your credit score could suffer.

is for co-signer

A person who is equally responsible for paying back the debt under the credit terms.

is for debt diet

Oprah's debt diet helped people figure out how to properly pay their bills.

is for emily

Who will always pay her bills in a timely manner.

is for fraud

Don't let fraud ruin your credit score. Always keep your passwords and usernames safe.

is for grace period

This refers to credit cards and the amount of time you have to take make back your payments before it accumulates interest.

is for home equity

The part of a home’s value that the mortgage borrower owns outright. 

is for income verification

Loan applications may require fully documented proof of an applicant’s income.

is for joint account

An account shared between two or more people. Doing this can increase your chances of lowering your credit score.

is for knowing

Knowing all of these terms can significantly help your understanding of credit scores, reports, and what all affects them.

is for late fee

The fee charged customers for paying late or less than the required minimum payment due by the due date.

is for merged credit report

This type of report shows your credit data from TransUnion, Equifax and Experian in a side-by-side format for easy comparison. 

is for negative amortization

Your debt balance continues to increase despite your payments. If you don't control this, it will ruin your credit score and reports easily.

is for outdated payments

When looking over credit reports, make sure to correct any outdated late payments so they don't mess with your credit score.

is for PITI

An easy acronym to help remember the four elements of mortgage payments: principal, interest, taxes, insurance.