Basic Banking Terms Explained

Have had a look through and it is nice, concise, and (imo) clear, for the less knowledgable reader/user.

Under Debit, I noted the sentence:
Every time you spend on a debit card, money will be deducted from your own account.

You may wish to add that "if the money is not deducted from your own account, this may be known as fraud" :grin:

I think you are brave to cover Credit Score as I am one of many people who see this as simply a fictional number, created by Credit Reference Agencies (CRAs), to sell additional products or services to those who seek the perfect score.

Lenders will have their own criteria and customer demographic profiles upon which eligibility is based and the CRA credit scores may sometimes cause confusion among consumers when their application is rejected. I have seen numerous posts on the internet from people who claim that they have been rejected for this credit card, or that loan, despite having a score of 999 on Experian.

Pleased to see that you also use the term credit rating, as it is your credit history that is important to focus on (among other things such as being on electoral register) to make you attractive to lenders.

All the above is just feedback :grin: , no criticism intended.

:+1: blog

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