GLOSSARY

Payment Cap Payment due date Penalty APR Penalty Fees Periodic Rate Permissable purpose Personal Credit Personal credit history Personal Identification Number PIN PITI Point-of-Sale Points Pre approved line of credit Prepayment penalty Previous balance Prime Rate Principal Private label cards Promotional inquiry Public record
GLOSSARY TERMS by Alpha
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Prepayment penalty

When you pay off your loan ahead of schedule, some lenders may charge a "prepayment penalty" fee to compensate for interest payments lost.

Previous Term: Pre approved line of credit
Next Term: Previous balance


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