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Category Archives: Glossary

Definition of Tied-Selling

“We will approve your new loan only if you move all your investments, mortgage and credit card business to us first.” You have just had your arm twisted by someone applying a lender’s technique known as “tied selling”. This is illegal in most westernized countries,¬†States and Provinces. There are some States where this law is […]

What is a Trade Line?

What Does Trade Line mean? Every credit card, loan, line of credit, or lease you have ever had is recorded on a Trade Line of your credit bureau report. Each trade line has a repayment summary which calculates the number of times your payments were late (30, 60 and 90 days), the amount of the […]

Definition of “Check Kiting” in Financial Terms

What is Check Kiting? “Check Kiting”¬† is also known as “Circular Kiting”, or “Riding the Float”. These illegal practices have been used by individuals and by small, medium, and large businesses. These schemes have been perpetrated since the dawn of banking and check writing. Check kiting is also known as “Kiting” for short. The premise […]