| BUSINESS DICTIONARY |
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| [C] credit card Any card, plate, or coupon book that may be used repeatedly to borrow money or buy goods and services on credit. credit scoring system A statistical system used to determine whether or not to grant credit by assigning numerical scores to various characteristics related to creditworthiness. credit union Financial cooperative organization of individuals who have a common bond, such as a place of employment, residence, or membership in a labor union. Credit unions accept deposits from members, pay interest (in the form of dividends) on the deposits out of earnings, and use their funds mainly to provide consumer installment loans to members. credit history A record of how a person has borrowed and repaid debt. creditworthiness A creditor's measure of a consumer's past and future ability and willingness to repay debts. currency appreciation An increase in the value of one currency relative to another currency. Appreciation occurs when, because of a change in exchange rates, a unit of one currency buys more units of another currency. currency depreciation A decline in the value of one currency relative to another currency. Depreciation occurs when, because of a change in exchange rates, a unit of one currency buys fewer units of another currency. currency devaluation A deliberate downward adjustment in the official exchange rate established, or pegged, by a government against a specified standard, such as another currency or gold. currency revaluation A deliberate upward adjustment in the official exchange rate established, or pegged, by a government against a specified standard, such as another currency or gold. current account balance The difference between the nation's total exports of goods, services, and transfers and its total imports of them. Current account balance calculations exclude transactions in financial assets and liabilities. cyclical unemployment Unemployment caused by a low level of aggregate demand associated with recession in the business cycle. |
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